JPMorgan Chase & Co. grew its stake in shares of LaSalle Hotel Properties (NYSE:LHO) by 14.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,201,025 shares of the real estate investment trust’s stock after purchasing an additional 155,893 shares during the period. JPMorgan Chase & Co. owned approximately 1.06% of LaSalle Hotel Properties worth $34,831,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. First Mercantile Trust Co. boosted its position in shares of LaSalle Hotel Properties by 1.9% during the 2nd 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 in the last quarter. Ffcm LLC boosted its position in shares of LaSalle Hotel Properties by 150.1% during the 2nd 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 in the last quarter. IFP Advisors Inc boosted its position in shares of LaSalle Hotel Properties by 14.9% during the 2nd 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of LaSalle Hotel Properties during the 3rd quarter worth $174,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of LaSalle Hotel Properties during the 3rd quarter worth $212,000.
In related news, COO Alfred L. Young sold 17,750 shares of the business’s 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 approximately $2,511,490.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.
Several research firms recently commented on LHO. Stifel Nicolaus reiterated a “hold” rating on shares of LaSalle Hotel Properties in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. 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 Sunday, October 1st. Barclays decreased their price objective on shares of LaSalle Hotel Properties from $28.00 to $27.00 and set an “underweight” rating on the stock in a research report on Monday, October 23rd. Finally, Morgan Stanley decreased their price objective on shares of LaSalle Hotel Properties from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Six analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $28.47.
Shares of LaSalle Hotel Properties (NYSE LHO) traded up $0.30 during mid-day trading on Tuesday, reaching $28.35. 1,105,100 shares of the company traded hands, compared to its average volume of 1,281,822. LaSalle Hotel Properties has a 12-month low of $27.44 and a 12-month high of $31.87. The firm has a market cap of $3,176.15, a P/E ratio of 10.96, a price-to-earnings-growth 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 the consensus estimate of $0.73 by ($0.46). LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The firm had revenue of $285.90 million during the quarter, compared to analyst estimates of $295.02 million. During the same period in the previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. sell-side analysts predict that LaSalle Hotel Properties will post 2.46 EPS for the current year.
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LaSalle Hotel Properties Company 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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