Forsta AP Fonden decreased its holdings in shares of LaSalle Hotel Properties (NYSE:LHO) by 27.4% in the 4th quarter, HoldingsChannel reports. The fund owned 51,000 shares of the real estate investment trust’s stock after selling 19,200 shares during the period. Forsta AP Fonden’s holdings in LaSalle Hotel Properties were worth $1,432,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in LaSalle Hotel Properties by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 1,201,025 shares of the real estate investment trust’s stock worth $34,831,000 after acquiring an additional 155,893 shares in the last quarter. Alpha Windward LLC raised its stake in LaSalle Hotel Properties by 1,435.5% during the third quarter. Alpha Windward LLC now owns 17,842 shares of the real estate investment trust’s stock worth $518,000 after acquiring an additional 16,680 shares in the last quarter. Royce & Associates LP acquired a new position in LaSalle Hotel Properties during the third quarter worth about $798,000. Bank of New York Mellon Corp raised its stake in LaSalle Hotel Properties by 65.1% during the third quarter. Bank of New York Mellon Corp now owns 4,147,536 shares of the real estate investment trust’s stock worth $120,362,000 after acquiring an additional 1,635,160 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in LaSalle Hotel Properties by 5.6% during the third quarter. Legal & General Group Plc now owns 797,764 shares of the real estate investment trust’s stock worth $23,150,000 after acquiring an additional 42,652 shares in the last quarter.
In other news, COO Alfred L. Young sold 17,750 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.
LaSalle Hotel Properties (LHO) opened at $28.64 on Friday. LaSalle Hotel Properties has a 52 week low of $27.44 and a 52 week high of $31.75. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3,242.96, a P/E ratio of 17.68, a PEG ratio of 2.45 and a beta of 1.12.
Several brokerages have commented on LHO. Zacks Investment Research raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, January 9th. UBS Group downgraded LaSalle Hotel Properties from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. Citigroup lowered their target price on LaSalle Hotel Properties from $29.00 to $26.50 and set a “neutral” rating for the company in a research note on Wednesday, October 25th. Raymond James Financial reissued a “market perform” rating on shares of LaSalle Hotel Properties in a research note on Monday, October 30th. Finally, Robert W. Baird set a $30.00 target price on LaSalle Hotel Properties and gave the stock a “hold” rating in a research note on Monday, October 23rd. Eight investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. LaSalle Hotel Properties currently has a consensus rating of “Hold” and a consensus target price of $28.00.
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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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