Wells Fargo & Company MN raised its stake in LaSalle Hotel Properties (NYSE:LHO) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,855,122 shares of the real estate investment trust’s stock after purchasing an additional 86,074 shares during the quarter. Wells Fargo & Company MN owned 1.64% of LaSalle Hotel Properties worth $53,835,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. First Mercantile Trust Co. grew its stake in shares of LaSalle Hotel Properties by 1.9% in the 2nd quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 70 shares during the last quarter. Ffcm LLC grew its stake in shares of LaSalle Hotel Properties by 150.1% in the 2nd quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 2,445 shares during the last quarter. IFP Advisors Inc grew its stake in shares of LaSalle Hotel Properties by 14.9% in the 2nd quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 592 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of LaSalle Hotel Properties in the 3rd quarter valued at approximately $174,000. Finally, World Asset Management Inc purchased a new position in shares of LaSalle Hotel Properties in the 2nd quarter valued at approximately $214,000.
In related news, COO Alfred L. Young sold 17,750 shares of LaSalle Hotel Properties stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total transaction of $501,970.00. Following the completion of the transaction, the chief operating officer now owns 88,808 shares of the company’s stock, valued at $2,511,490.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by company insiders.
Shares of LaSalle Hotel Properties (LHO) opened at $28.05 on Friday. LaSalle Hotel Properties has a 12 month low of $27.44 and a 12 month high of $31.87. The firm has a market capitalization of $3,177.28, a P/E ratio of 10.96, a P/E/G ratio of 2.28 and a beta of 1.11. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45.
LaSalle Hotel Properties (NYSE:LHO) last announced its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The firm had revenue of $285.90 million for the quarter, compared to the consensus estimate of $295.02 million. During the same period in the prior year, the business earned $0.84 EPS. LaSalle Hotel Properties’s quarterly revenue was down 12.5% on a year-over-year basis. research analysts anticipate that LaSalle Hotel Properties will post 2.46 EPS for the current year.
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LaSalle Hotel Properties Profile
LaSalle Hotel Properties is a self-administered and self-managed real estate investment trust. The Company primarily buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and urban business markets. As of December 31, 2016, the Company owned interests in 46 hotels with approximately 11,450 guest rooms located in nine states of the United States and the District of Columbia (DC).
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