BNP Paribas Arbitrage SA lessened its stake in LaSalle Hotel Properties (NYSE:LHO) by 17.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,035 shares of the real estate investment trust’s stock after selling 18,503 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.08% of LaSalle Hotel Properties worth $2,613,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in shares of LaSalle Hotel Properties by 110.6% during the 1st quarter. Renaissance Technologies LLC now owns 205,800 shares of the real estate investment trust’s stock worth $5,958,000 after buying an additional 108,100 shares during the period. Capstone Asset Management Co. boosted its stake in LaSalle Hotel Properties by 6.4% during the 2nd quarter. Capstone Asset Management Co. now owns 11,385 shares of the real estate investment trust’s stock worth $339,000 after acquiring an additional 680 shares during the last quarter. Eqis Capital Management Inc. bought a new position in LaSalle Hotel Properties during the 2nd quarter worth approximately $228,000. Oregon Public Employees Retirement Fund boosted its stake in LaSalle Hotel Properties by 4.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 41,371 shares of the real estate investment trust’s stock worth $1,233,000 after acquiring an additional 1,777 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in LaSalle Hotel Properties by 16.8% during the 2nd quarter. LS Investment Advisors LLC now owns 8,882 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 1,280 shares during the last quarter.
In other news, COO Alfred L. Young sold 17,750 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.
LaSalle Hotel Properties (NYSE LHO) traded down $0.16 on Thursday, reaching $28.06. 1,384,507 shares of the company traded hands, compared to its average volume of 1,282,761. LaSalle Hotel Properties has a 1-year low of $27.44 and a 1-year high of $31.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.22 and a quick ratio of 3.22. The company has a market capitalization of $3,160.00, a PE ratio of 11.07, a price-to-earnings-growth ratio of 2.30 and a beta of 1.11.
LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 company earned $0.84 EPS. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. sell-side analysts anticipate that LaSalle Hotel Properties will post 2.46 EPS for the current fiscal year.
LHO has been the topic of a number of research reports. Boenning Scattergood lowered shares of LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 24th. BidaskClub lowered shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Robert W. Baird set a $31.00 price objective on shares of LaSalle Hotel Properties and gave the stock a “hold” rating in a research report on Friday, August 25th. Zacks Investment Research lowered shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of LaSalle Hotel Properties in a research report on Tuesday, October 17th. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $28.47.
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About LaSalle Hotel Properties
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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