Royal Bank of Canada increased its holdings in LaSalle Hotel Properties (NYSE:LHO) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 735,769 shares of the real estate investment trust’s stock after acquiring an additional 30,321 shares during the period. Royal Bank of Canada owned about 0.65% of LaSalle Hotel Properties worth $21,926,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. First Mercantile Trust Co. lifted its stake in 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 worth $113,000 after acquiring an additional 70 shares in the last quarter. Ffcm LLC lifted its stake in 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 acquiring an additional 2,445 shares in the last quarter. IFP Advisors Inc lifted its stake in 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 acquiring an additional 592 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in LaSalle Hotel Properties in the 1st quarter worth about $178,000. Finally, World Asset Management Inc purchased a new stake in LaSalle Hotel Properties in the 2nd quarter worth about $214,000.
Several brokerages recently issued reports on LHO. Boenning Scattergood set a $35.00 price objective on LaSalle Hotel Properties and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Robert W. Baird reissued a “neutral” rating and issued a $31.00 price objective (up from $30.00) on shares of LaSalle Hotel Properties in a research note on Friday, June 16th. BidaskClub raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) downgraded LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $25.00 to $24.00 in a research note on Wednesday, August 2nd. Finally, Deutsche Bank AG cut their price target on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, July 21st. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. LaSalle Hotel Properties has a consensus rating of “Hold” and a consensus price target of $28.86.
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Shares of LaSalle Hotel Properties (NYSE LHO) opened at 29.75 on Wednesday. The stock’s 50 day moving average price is $28.68 and its 200-day moving average price is $29.12. The stock has a market capitalization of $3.37 billion, a P/E ratio of 11.06 and a beta of 1.18. LaSalle Hotel Properties has a 1-year low of $23.05 and a 1-year high of $31.87.
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. Equities research analysts anticipate that LaSalle Hotel Properties will post $1.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.05%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is 66.91%.
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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