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:
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.
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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.
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