Tower Research Capital LLC TRC boosted its position in shares of LaSalle Hotel Properties (NYSE:LHO) by 531.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,438 shares of the real estate investment trust’s stock after buying an additional 6,260 shares during the period. Tower Research Capital LLC TRC’s holdings in LaSalle Hotel Properties were worth $175,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. purchased a new stake in shares of LaSalle Hotel Properties during the second quarter worth $111,000. Fuller & Thaler Asset Management Inc. bought a new position in LaSalle Hotel Properties during the second quarter valued at approximately $120,000. BlackRock Japan Co. Ltd boosted its position in LaSalle Hotel Properties by 2.8% in the first quarter. BlackRock Japan Co. Ltd now owns 6,049 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 167 shares during the last quarter. LS Investment Advisors LLC boosted its position in LaSalle Hotel Properties by 72.3% in the second quarter. LS Investment Advisors LLC now owns 6,766 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 2,838 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its position in LaSalle Hotel Properties by 36.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,955 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 1,860 shares during the last quarter.
Shares of LaSalle Hotel Properties (NYSE:LHO) opened at 23.76 on Wednesday. The stock has a market capitalization of $2.69 billion, a P/E ratio of 20.84 and a beta of 1.35. LaSalle Hotel Properties has a 12-month low of $19.01 and a 12-month high of $32.10. The stock has a 50 day moving average price of $26.07 and a 200 day moving average price of $24.98.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. LaSalle Hotel Properties had a return on equity of 6.51% and a net margin of 11.54%. The company had revenue of $351.10 million for the quarter, compared to analyst estimates of $344.43 million. During the same period last year, the company posted $0.91 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts anticipate that LaSalle Hotel Properties will post $2.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.58%. The ex-dividend date of this dividend is Wednesday, September 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 157.90%.
Several research analysts recently commented on LHO shares. Credit Suisse Group AG cut LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $26.00 to $25.00 in a research note on Thursday, July 21st. BTIG Research started coverage on LaSalle Hotel Properties in a research note on Thursday, August 25th. They set a “neutral” rating for the company. TheStreet raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. Zacks Investment Research cut LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Finally, Citigroup Inc. boosted their target price on LaSalle Hotel Properties from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $27.08.
In other LaSalle Hotel Properties news, COO Alfred L. Young sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $28.11, for a total value of $477,870.00. Following the transaction, the chief operating officer now directly owns 90,024 shares of the company’s stock, valued at $2,530,574.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael D. Barnello sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $28.49, for a total value of $4,273,500.00. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.
LaSalle Hotel Properties Company Profile
Lasalle Hotel Properties is a self-administered and self-managed real estate investment trust (REIT). The Company primarily buys, owns, redevelops and leases upscale and luxury hotels located in convention, resort and urban business markets. The Company owns interest in approximately 50 hotels with over 12,000 guest rooms located in approximately 10 states and the District of Columbia.
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