Louisiana State Employees Retirement System cut its stake in shares of LaSalle Hotel Properties (NYSE:LHO) by 3.8% during the second quarter, Holdings Channel reports. The fund owned 30,100 shares of the real estate investment trust’s stock after selling 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in LaSalle Hotel Properties were worth $710,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its stake in shares of LaSalle Hotel Properties by 1.9% in the first quarter. State Street Corp now owns 5,522,847 shares of the real estate investment trust’s stock valued at $139,791,000 after buying an additional 103,005 shares during the last quarter. Shinko Asset Management Co. Ltd. boosted its position in LaSalle Hotel Properties by 7.4% in the second quarter. Shinko Asset Management Co. Ltd. now owns 5,236,386 shares of the real estate investment trust’s stock worth $123,474,000 after buying an additional 359,170 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in LaSalle Hotel Properties by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,761,233 shares of the real estate investment trust’s stock worth $120,507,000 after buying an additional 67,769 shares in the last quarter. Wellington Management Group LLP acquired a new position in LaSalle Hotel Properties during the first quarter worth $106,339,000. Finally, Goldman Sachs Group Inc. boosted its position in LaSalle Hotel Properties by 38.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,727,956 shares of the real estate investment trust’s stock worth $94,354,000 after buying an additional 1,039,782 shares in the last quarter.
Shares of LaSalle Hotel Properties (NYSE:LHO) traded up 1.44% during midday trading on Wednesday, hitting $24.58. The stock had a trading volume of 763,567 shares. The company has a market cap of $2.78 billion, a P/E ratio of 21.56 and a beta of 1.35. LaSalle Hotel Properties has a one year low of $19.01 and a one year high of $32.10. The stock has a 50 day moving average of $25.52 and a 200-day moving average of $24.95.
LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.95. LaSalle Hotel Properties had a return on equity of 6.51% and a net margin of 11.54%. The firm earned $351.10 million during the quarter, compared to the consensus estimate of $344.43 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts forecast that LaSalle Hotel Properties will post $2.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date is Wednesday, September 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 157.90%.
A number of equities analysts have recently weighed in on the company. Deutsche Bank AG reiterated a “hold” rating on shares of LaSalle Hotel Properties in a report on Sunday, June 26th. Zacks Investment Research upgraded LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Citigroup Inc. increased their price target on LaSalle Hotel Properties from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. Credit Suisse Group AG cut LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $25.00 in a report on Thursday, July 21st. Finally, Barclays PLC set a $25.00 price target on LaSalle Hotel Properties and gave the stock a “sell” rating in a report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $26.85.
In other LaSalle Hotel Properties news, insider Michael D. Barnello sold 150,000 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $28.49, for a total transaction of $4,273,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Alfred L. Young sold 17,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $28.11, for a total value of $477,870.00. Following the sale, the chief operating officer now directly owns 90,024 shares of the company’s stock, valued at approximately $2,530,574.64. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
About LaSalle Hotel Properties
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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