Rhumbline Advisers reduced its position in shares of LaSalle Hotel Properties (NYSE:LHO) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 270,998 shares of the real estate investment trust’s stock after selling 5,920 shares during the period. Rhumbline Advisers owned 0.24% of LaSalle Hotel Properties worth $7,864,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LHO. Sei Investments Co. boosted its holdings in LaSalle Hotel Properties by 14.4% in the 3rd quarter. Sei Investments Co. now owns 132,461 shares of the real estate investment trust’s stock valued at $3,845,000 after purchasing an additional 16,667 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in LaSalle Hotel Properties in the 3rd quarter valued at $174,000. Alps Advisors Inc. boosted its holdings in LaSalle Hotel Properties by 26.3% in the 3rd quarter. Alps Advisors Inc. now owns 16,206 shares of the real estate investment trust’s stock valued at $470,000 after purchasing an additional 3,372 shares during the period. Breton Hill Capital Ltd. boosted its holdings in LaSalle Hotel Properties by 6.7% in the 3rd quarter. Breton Hill Capital Ltd. now owns 57,214 shares of the real estate investment trust’s stock valued at $1,660,000 after purchasing an additional 3,578 shares during the period. Finally, Advantus Capital Management Inc boosted its holdings in LaSalle Hotel Properties by 226.7% in the 3rd quarter. Advantus Capital Management Inc now owns 46,693 shares of the real estate investment trust’s stock valued at $1,355,000 after purchasing an additional 32,400 shares during the period.
A number of analysts have weighed in on the stock. Boenning Scattergood reissued a “hold” rating on shares of LaSalle Hotel Properties in a report on Monday, October 23rd. TheStreet downgraded shares of LaSalle Hotel Properties from a “b” rating to a “c+” rating in a report on Friday, October 20th. Stifel Nicolaus reissued a “hold” rating on shares of LaSalle Hotel Properties in a report on Tuesday, October 17th. Goldman Sachs Group downgraded shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and reduced their price target for the company from $25.00 to $24.00 in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Five investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.47.
LaSalle Hotel Properties (NYSE LHO) traded down $0.01 during trading hours on Wednesday, hitting $28.11. 1,265,400 shares of the stock were exchanged, compared to its average volume of 1,275,763. The company has a market cap of $3,207.86, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12. LaSalle Hotel Properties has a one year low of $26.86 and a one year high of $31.87. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). The business had revenue of $285.90 million for the quarter, compared to the consensus estimate of $295.02 million. LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. LaSalle Hotel Properties’s revenue was down 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. equities research analysts predict that LaSalle Hotel Properties will post 2.46 earnings per share for the current fiscal year.
In other news, COO Alfred L. Young sold 17,750 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total transaction of $501,970.00. Following the completion of the transaction, the chief operating officer now directly owns 88,808 shares of the company’s stock, valued at approximately $2,511,490.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.
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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