Hg Vora Capital Management, LLC Owns Stake in LaSalle Hotel Properties (LHO)

Hg Vora Capital Management, LLC recently revealed that they own 8.2% of LaSalle Hotel Properties (NYSE:LHO) in a Form 13D/A disclosure that was filed with the SEC on Monday, April 23rd. The investor owns 9,250,012 shares of the stock worth $288,230,374. The disclosure is available through the SEC website at this hyperlink.

Hg Vora Capital Management, LLC provided the following explanation of their ownership:

How to Become a New Pot Stock Millionaire

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. boosted its holdings in LaSalle Hotel Properties by 4,082.5% in the fourth quarter. Assetmark Inc. now owns 4,057 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 3,960 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in LaSalle Hotel Properties in the fourth quarter valued at approximately $267,000. Elkfork Partners LLC acquired a new position in LaSalle Hotel Properties in the fourth quarter valued at approximately $285,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in LaSalle Hotel Properties by 58.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,766 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 3,956 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its holdings in LaSalle Hotel Properties by 27.1% in the fourth quarter. Eqis Capital Management Inc. now owns 11,810 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 2,521 shares in the last quarter.

A number of equities analysts recently issued reports on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.50 price target on shares of LaSalle Hotel Properties in a report on Monday, April 16th. Zacks Investment Research cut LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. Robert W. Baird set a $30.00 price objective on LaSalle Hotel Properties and gave the company a “buy” rating in a research note on Tuesday, April 3rd. Bank of America cut LaSalle Hotel Properties from a “neutral” rating to an “underperform” rating in a research note on Monday, January 8th. Finally, ValuEngine cut LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, April 11th. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.35.

Shares of LaSalle Hotel Properties stock traded up $0.29 during trading hours on Monday, hitting $31.16. 1,136,229 shares of the company were exchanged, compared to its average volume of 2,171,659. LaSalle Hotel Properties has a 1 year low of $24.10 and a 1 year high of $31.75. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.30 and a quick ratio of 3.30. The stock has a market capitalization of $3,494.64, a PE ratio of 12.62, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11.

LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.39). LaSalle Hotel Properties had a return on equity of 8.11% and a net margin of 17.65%. The company had revenue of $257.51 million for the quarter, compared to analysts’ expectations of $261.42 million. equities research analysts anticipate that LaSalle Hotel Properties will post 2.1 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.78%. The ex-dividend date of this dividend was Wednesday, March 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 72.87%.

In related news, CEO Michael D. Barnello purchased 19,398 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was acquired at an average price of $24.65 per share, for a total transaction of $478,160.70. Following the completion of the purchase, the chief executive officer now directly owns 183,221 shares of the company’s stock, valued at $4,516,397.65. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.43% of the stock is owned by corporate insiders.

COPYRIGHT VIOLATION WARNING: This story was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/04/23/hg-vora-capital-management-llc-owns-stake-in-lasalle-hotel-properties-lho.html.

LaSalle Hotel Properties Company Profile

LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 41 properties, which are upscale, full-service hotels, totaling approximately 10,400 guest rooms in 11 markets in seven states and the District of Columbia. The Company focuses on owning, redeveloping and repositioning upscale, full-service hotels located in urban, resort and convention markets.

Institutional Ownership by Quarter for LaSalle Hotel Properties (NYSE:LHO)

Receive News & Ratings for LaSalle Hotel Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LaSalle Hotel Properties and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply