TIAA CREF Investment Management LLC reduced its position in LaSalle Hotel Properties (NYSE:LHO) by 6.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 306,808 shares of the real estate investment trust’s stock after selling 22,081 shares during the period. TIAA CREF Investment Management LLC owned 0.27% of LaSalle Hotel Properties worth $9,143,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Mercantile Trust Co. increased its stake in shares of LaSalle Hotel Properties by 1.9% in the 2nd quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 70 shares during the period. Ffcm LLC boosted its position in shares of LaSalle Hotel Properties by 150.1% in 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 during the last quarter. IFP Advisors Inc boosted its position in shares of LaSalle Hotel Properties by 14.9% in 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 during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of LaSalle Hotel Properties in the 1st quarter worth $178,000. Finally, World Asset Management Inc bought a new position in shares of LaSalle Hotel Properties in the 2nd quarter worth $214,000.
Shares of LaSalle Hotel Properties (LHO) opened at 29.41 on Friday. LaSalle Hotel Properties has a one year low of $23.05 and a one year high of $31.87. The stock has a 50 day moving average price of $28.57 and a 200-day moving average price of $29.10. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 10.94 and a beta of 1.18.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.01). The company had revenue of $307.04 million for the quarter, compared to the consensus estimate of $318.94 million. LaSalle Hotel Properties had a return on equity of 13.05% and a net margin of 27.85%. LaSalle Hotel Properties’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period last year, the company earned $0.95 EPS. On average, equities research analysts expect that LaSalle Hotel Properties will post $1.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.12%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 66.91%.
LHO has been the topic of several recent research reports. BidaskClub upgraded LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Robert W. Baird restated a “neutral” rating and issued a $31.00 price target (up from $30.00) on shares of LaSalle Hotel Properties in a research report on Friday, June 16th. Boenning Scattergood set a $35.00 price target on LaSalle Hotel Properties and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Deutsche Bank AG reduced their price target on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. Finally, Goldman Sachs Group, Inc. (The) lowered LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $25.00 to $24.00 in a research report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $28.86.
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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