Louisiana State Employees Retirement System raised its stake in LaSalle Hotel Properties (NYSE:LHO) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 29,500 shares of the real estate investment trust’s stock after buying an additional 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in LaSalle Hotel Properties were worth $879,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in shares of LaSalle Hotel Properties during the fourth quarter valued at about $2,977,000. Highbridge Capital Management LLC acquired a new stake in shares of LaSalle Hotel Properties during the fourth quarter valued at about $324,000. Macquarie Group Ltd. increased its stake in shares of LaSalle Hotel Properties by 8.5% in the fourth quarter. Macquarie Group Ltd. now owns 777,210 shares of the real estate investment trust’s stock valued at $23,682,000 after buying an additional 60,812 shares in the last quarter. F&V Capital Management LLC increased its stake in shares of LaSalle Hotel Properties by 4.8% in the first quarter. F&V Capital Management LLC now owns 139,905 shares of the real estate investment trust’s stock valued at $4,050,000 after buying an additional 6,460 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of LaSalle Hotel Properties by 535.5% in the first quarter. Bank of Montreal Can now owns 12,132 shares of the real estate investment trust’s stock valued at $351,000 after buying an additional 10,223 shares in the last quarter.
LaSalle Hotel Properties (NYSE LHO) traded up 0.14% during midday trading on Tuesday, hitting $29.58. The stock had a trading volume of 197,063 shares. The firm has a market cap of $3.35 billion, a P/E ratio of 11.00 and a beta of 1.16. LaSalle Hotel Properties has a 52 week low of $23.05 and a 52 week high of $31.87. The stock has a 50-day moving average of $30.30 and a 200-day moving average of $29.53.
LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $307.04 million during the quarter, compared to the consensus estimate of $318.94 million. LaSalle Hotel Properties had a net margin of 27.85% and a return on equity of 13.05%. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 earnings per share. Analysts forecast that LaSalle Hotel Properties will post $1.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.45 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.09%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is 66.91%.
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Several equities research analysts recently issued reports on LHO shares. Goldman Sachs Group, Inc. (The) started coverage on LaSalle Hotel Properties in a research note on Monday, April 10th. They issued a “neutral” rating and a $27.00 price objective for the company. Boenning Scattergood reissued an “outperform” rating on shares of LaSalle Hotel Properties in a research note on Wednesday, April 12th. Barclays PLC reissued an “underweight” rating and issued a $28.00 price objective (up from $27.00) on shares of LaSalle Hotel Properties in a research note on Sunday, April 23rd. Zacks Investment Research downgraded LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Finally, BidaskClub raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company’s stock. LaSalle Hotel Properties currently has an average rating of “Hold” and a consensus price target of $29.12.
About LaSalle Hotel Properties
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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