Vident Investment Advisory LLC lifted its stake in LaSalle Hotel Properties (NYSE:LHO) by 19.0% during the fourth quarter, HoldingsChannel reports. The fund owned 60,179 shares of the real estate investment trust’s stock after acquiring an additional 9,622 shares during the quarter. Vident Investment Advisory LLC’s holdings in LaSalle Hotel Properties were worth $1,689,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Assetmark Inc. raised its stake in shares of LaSalle Hotel Properties by 4,082.5% in the 4th quarter. Assetmark Inc. now owns 4,057 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 3,960 shares in the last quarter. Elkfork Partners LLC bought a new position in shares of LaSalle Hotel Properties in the 4th quarter valued at approximately $285,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of LaSalle Hotel Properties by 58.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,766 shares of the real estate investment trust’s stock valued at $312,000 after acquiring an additional 3,956 shares in the last quarter. Eqis Capital Management Inc. raised its stake in shares of LaSalle Hotel Properties by 27.1% in the 4th quarter. Eqis Capital Management Inc. now owns 11,810 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 2,521 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of LaSalle Hotel Properties in the 3rd quarter valued at approximately $356,000.
Several research analysts have commented on the company. Deutsche Bank dropped their price target on LaSalle Hotel Properties from $28.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Bank of America downgraded LaSalle Hotel Properties from a “neutral” rating to an “underperform” rating in a research report on Monday, January 8th. Zacks Investment Research downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. ValuEngine downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Robert W. Baird set a $27.00 price target on LaSalle Hotel Properties and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. LaSalle Hotel Properties has a consensus rating of “Hold” and an average target price of $26.73.
Shares of LHO stock opened at $26.04 on Wednesday. The stock has a market capitalization of $2,948.99, a P/E ratio of 10.55, a PEG ratio of 2.48 and a beta of 1.28. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.45. LaSalle Hotel Properties has a 1 year low of $24.10 and a 1 year high of $31.75.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.39). The firm had revenue of $257.51 million for the quarter, compared to the consensus estimate of $261.42 million. LaSalle Hotel Properties had a net margin of 17.65% and a return on equity of 8.11%. analysts predict that LaSalle Hotel Properties will post 2.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend is Wednesday, March 28th. LaSalle Hotel Properties’s dividend payout ratio is presently 117.65%.
In other news, CEO Michael D. Barnello acquired 19,398 shares of the stock in a transaction dated Friday, March 2nd. The shares were acquired at an average cost of $24.65 per share, for a total transaction of $478,160.70. Following the completion of the transaction, the chief executive officer now owns 183,221 shares in the company, valued at approximately $4,516,397.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.
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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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