Public Employees Retirement System of Ohio reduced its holdings in shares of LaSalle Hotel Properties (NYSE:LHO) by 29.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,354 shares of the real estate investment trust’s stock after selling 59,718 shares during the quarter. Public Employees Retirement System of Ohio owned 0.13% of LaSalle Hotel Properties worth $4,272,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. First Mercantile Trust Co. boosted its holdings in LaSalle Hotel Properties by 1.9% during the second quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 70 shares during the last quarter. Ffcm LLC boosted its holdings in LaSalle Hotel Properties by 150.1% during the second quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 2,445 shares during the last quarter. IFP Advisors Inc boosted its holdings in LaSalle Hotel Properties by 14.9% during the second quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 592 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in LaSalle Hotel Properties during the first quarter worth about $178,000. Finally, World Asset Management Inc purchased a new position in LaSalle Hotel Properties during the second quarter worth about $214,000.
LaSalle Hotel Properties (LHO) traded down $0.07 during midday trading on Friday, hitting $28.52. 890,300 shares of the stock traded hands, compared to its average volume of 1,290,269. LaSalle Hotel Properties has a one year low of $25.44 and a one year high of $31.87. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $3,238.43, a price-to-earnings ratio of 11.17, a P/E/G ratio of 2.32 and a beta of 1.12.
LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.46). The business had revenue of $285.90 million during the quarter, compared to the consensus estimate of $295.02 million. LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. equities research analysts expect that LaSalle Hotel Properties will post 2.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date of this dividend was Thursday, September 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 111.11%.
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Several research analysts recently weighed in on LHO shares. Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Robert W. Baird set a $31.00 target price on shares of LaSalle Hotel Properties and gave the company a “hold” rating in a research note on Sunday, October 1st. Boenning Scattergood reiterated a “hold” rating on shares of LaSalle Hotel Properties in a research note on Monday, October 23rd. Wells Fargo & Company dropped their target price on shares of LaSalle Hotel Properties from $30.00 to $29.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 24th. Finally, BidaskClub cut shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Three research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $29.00.
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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