LaSalle Hotel Properties (NYSE:lho) declared a quarterly dividend on Thursday, September 15th. Shareholders of record on Friday, September 30th will be given a dividend of 0.45 per share by the real estate investment trust on Monday, October 17th. This represents a $1.80 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date of this dividend is Wednesday, September 28th.
In other LaSalle Hotel Properties news, insider Michael D. Barnello sold 150,000 shares of LaSalle Hotel Properties stock in a transaction on Friday, August 26th. The shares were sold at an average price of $28.49, for a total value of $4,273,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Alfred L. Young sold 17,000 shares of LaSalle Hotel Properties stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $28.11, for a total transaction of $477,870.00. Following the completion of the sale, the chief operating officer now directly owns 90,024 shares of the company’s stock, valued at $2,530,574.64. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC increased its stake in LaSalle Hotel Properties by 193.7% in the second quarter. Nuveen Asset Management LLC now owns 631,856 shares of the real estate investment trust’s stock valued at $14,899,000 after buying an additional 416,713 shares during the period. Thrivent Financial for Lutherans increased its stake in LaSalle Hotel Properties by 678.2% in the second quarter. Thrivent Financial for Lutherans now owns 413,028 shares of the real estate investment trust’s stock valued at $9,740,000 after buying an additional 359,950 shares during the last quarter. Piermont Capital Management Inc. acquired a new stake in LaSalle Hotel Properties during the second quarter valued at approximately $2,724,000. Credit Suisse AG increased its stake in LaSalle Hotel Properties by 31.2% in the second quarter. Credit Suisse AG now owns 440,199 shares of the real estate investment trust’s stock valued at $10,380,000 after buying an additional 104,619 shares during the last quarter. Finally, Raymond James & Associates increased its stake in LaSalle Hotel Properties by 122.2% in the second quarter. Raymond James & Associates now owns 183,203 shares of the real estate investment trust’s stock valued at $4,320,000 after buying an additional 100,766 shares during the last quarter.
A number of research firms have recently commented on LHO. Deutsche Bank AG restated a “hold” rating on shares of LaSalle Hotel Properties in a research note on Sunday, June 26th. Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Citigroup Inc. increased their price objective on shares of LaSalle Hotel Properties from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, July 28th. Credit Suisse Group AG downgraded shares of LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $25.00 in a research note on Thursday, July 21st. Finally, Barclays PLC set a $25.00 price objective on shares of LaSalle Hotel Properties and gave the stock a “sell” rating in a research note on Thursday, July 21st. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $27.43.
Shares of LaSalle Hotel Properties (NYSE:LHO) opened at 25.02 on Friday. The company has a 50-day moving average of $26.98 and a 200 day moving average of $25.07. The firm has a market capitalization of $2.83 billion, a P/E ratio of 21.95 and a beta of 1.17. LaSalle Hotel Properties has a 52 week low of $19.01 and a 52 week high of $32.10.
LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. The business had revenue of $351.10 million for the quarter, compared to analyst estimates of $344.43 million. LaSalle Hotel Properties had a net margin of 11.54% and a return on equity of 6.51%. LaSalle Hotel Properties’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. Equities research analysts anticipate that LaSalle Hotel Properties will post $2.92 earnings per share for the current year.
About LaSalle Hotel Properties
Lasalle Hotel Properties is a self-administered and self-managed real estate investment trust (REIT). The Company primarily buys, owns, redevelops and leases upscale and luxury hotels located in convention, resort and urban business markets. The Company owns interest in approximately 50 hotels with over 12,000 guest rooms located in approximately 10 states and the District of Columbia.
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