UBS Asset Management Americas Inc. lowered its stake in LaSalle Hotel Properties (NYSE:LHO) by 53.0% during the second quarter, Holdings Channel reports. The fund owned 198,021 shares of the real estate investment trust’s stock after selling 223,670 shares during the period. UBS Asset Management Americas Inc. owned 0.18% of LaSalle Hotel Properties worth $4,670,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHO. Fuller & Thaler Asset Management Inc. purchased a new position in LaSalle Hotel Properties during the second quarter valued at approximately $120,000. BlackRock Japan Co. Ltd increased its position in LaSalle Hotel Properties by 2.8% in the first quarter. BlackRock Japan Co. Ltd now owns 6,049 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 167 shares during the last quarter. LS Investment Advisors LLC increased its position in LaSalle Hotel Properties by 72.3% in the second quarter. LS Investment Advisors LLC now owns 6,766 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 2,838 shares during the last quarter. Envestnet Asset Management Inc. increased its position in LaSalle Hotel Properties by 38.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,342 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 1,762 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. increased its position in LaSalle Hotel Properties by 36.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,955 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 1,860 shares during the last quarter.
LaSalle Hotel Properties (NYSE:LHO) traded up 1.26% during trading on Friday, hitting $24.13. The company’s stock had a trading volume of 592,543 shares. LaSalle Hotel Properties has a one year low of $19.01 and a one year high of $32.10. The company has a 50-day moving average of $26.43 and a 200 day moving average of $25.03. The firm has a market cap of $2.73 billion, a PE ratio of 21.17 and a beta of 1.17.
LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. LaSalle Hotel Properties had a return on equity of 6.51% and a net margin of 11.54%. The business had revenue of $351.10 million for the quarter, compared to analyst estimates of $344.43 million. During the same quarter in the prior year, the company earned $0.91 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts forecast that LaSalle Hotel Properties will post $2.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date is Wednesday, September 28th. LaSalle Hotel Properties’s dividend payout ratio is currently 157.90%.
Several brokerages have issued reports on LHO. Credit Suisse Group AG cut LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $26.00 to $25.00 in a research report on Thursday, July 21st. Zacks Investment Research cut LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. TheStreet raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research report on Monday, July 18th. Deutsche Bank AG reaffirmed a “hold” rating on shares of LaSalle Hotel Properties in a research report on Sunday, June 26th. Finally, BTIG Research began coverage on LaSalle Hotel Properties in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.08.
In related news, COO Alfred L. Young sold 17,000 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $28.11, for a total value of $477,870.00. Following the transaction, the chief operating officer now owns 90,024 shares of the company’s stock, valued at $2,530,574.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Barnello sold 150,000 shares of the 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 disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.
LaSalle Hotel Properties Company Profile
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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