Meeder Asset Management Inc. cut its stake in shares of LaSalle Hotel Properties (NYSE:LHO) by 63.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,455 shares of the real estate investment trust’s stock after selling 16,270 shares during the period. Meeder Asset Management Inc.’s holdings in LaSalle Hotel Properties were worth $281,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in LHO. Vanguard Group Inc. increased its stake in shares of LaSalle Hotel Properties by 7.8% in the first quarter. Vanguard Group Inc. now owns 19,251,397 shares of the real estate investment trust’s stock valued at $557,328,000 after buying an additional 1,393,862 shares in the last quarter. BlackRock Inc. increased its stake in shares of LaSalle Hotel Properties by 6,612.1% in the first quarter. BlackRock Inc. now owns 14,418,107 shares of the real estate investment trust’s stock valued at $417,404,000 after buying an additional 14,203,299 shares in the last quarter. Morgan Stanley increased its stake in shares of LaSalle Hotel Properties by 14.9% in the first quarter. Morgan Stanley now owns 6,976,863 shares of the real estate investment trust’s stock valued at $201,980,000 after buying an additional 902,406 shares in the last quarter. Lasalle Investment Management Securities LLC increased its stake in shares of LaSalle Hotel Properties by 6.5% in the first quarter. Lasalle Investment Management Securities LLC now owns 6,370,014 shares of the real estate investment trust’s stock valued at $184,412,000 after buying an additional 390,952 shares in the last quarter. Finally, State Street Corp increased its stake in shares of LaSalle Hotel Properties by 0.9% in the first quarter. State Street Corp now owns 5,579,874 shares of the real estate investment trust’s stock valued at $161,534,000 after buying an additional 49,203 shares in the last quarter.
LaSalle Hotel Properties (NYSE:LHO) traded down 2.37% during mid-day trading on Wednesday, hitting $28.86. The stock had a trading volume of 262,403 shares. The company’s 50 day moving average price is $30.27 and its 200 day moving average price is $29.53. The firm has a market cap of $3.27 billion, a PE ratio of 10.73 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.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by $0.01. LaSalle Hotel Properties had a net margin of 27.85% and a return on equity of 13.05%. The business had revenue of $307.04 million during the quarter, compared to analysts’ expectations of $318.94 million. During the same period in the previous year, the business earned $0.95 EPS. The business’s revenue was down 12.5% on a year-over-year basis. Analysts anticipate that LaSalle Hotel Properties will post $1.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend 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 is 66.91%.
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Several equities research analysts have issued reports on LHO shares. Boenning Scattergood set a $35.00 price target on LaSalle Hotel Properties and gave the company a “buy” rating in a report on Tuesday, June 27th. BidaskClub raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Zacks Investment Research raised LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. Deutsche Bank AG dropped their target price on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating for the company in a report on Friday, July 21st. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on LaSalle Hotel Properties in a report on Monday, April 10th. They set a “neutral” rating and a $27.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.12.
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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