Oregon Public Employees Retirement Fund raised its stake in shares of LaSalle Hotel Properties (NYSE:LHO) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,371 shares of the real estate investment trust’s stock after buying an additional 1,777 shares during the period. Oregon Public Employees Retirement Fund’s holdings in LaSalle Hotel Properties were worth $1,233,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Karp Capital Management Corp acquired a new position in shares of LaSalle Hotel Properties during the first quarter valued at approximately $1,090,000. James Investment Research Inc. acquired a new position in shares of LaSalle Hotel Properties during the first quarter valued at approximately $138,000. Russell Investments Group Ltd. increased its position in shares of LaSalle Hotel Properties by 23.4% in the first quarter. Russell Investments Group Ltd. now owns 1,238,948 shares of the real estate investment trust’s stock valued at $35,862,000 after buying an additional 234,609 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in shares of LaSalle Hotel Properties by 526.0% in the first quarter. Virginia Retirement Systems ET AL now owns 62,600 shares of the real estate investment trust’s stock valued at $1,812,000 after buying an additional 52,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of LaSalle Hotel Properties by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,587,271 shares of the real estate investment trust’s stock valued at $45,951,000 after buying an additional 34,183 shares during the last quarter.
Shares of LaSalle Hotel Properties (NYSE LHO) traded up 0.68% during midday trading on Friday, reaching $28.11. The company’s stock had a trading volume of 1,187,283 shares. LaSalle Hotel Properties has a 52 week low of $23.05 and a 52 week high of $31.87. The company has a 50 day moving average price of $29.68 and a 200-day moving average price of $29.45. The stock has a market capitalization of $3.18 billion, a PE ratio of 10.45 and a beta of 1.16.
LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by $0.01. LaSalle Hotel Properties had a return on equity of 13.05% and a net margin of 27.85%. The business had revenue of $307.04 million during the quarter, compared to analysts’ expectations of $318.94 million. During the same period last year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, equities research analysts expect that LaSalle Hotel Properties will post $1.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date was Wednesday, June 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is 66.91%.
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Several equities research analysts have recently issued reports on LHO shares. Boenning Scattergood set a $35.00 target price on LaSalle Hotel Properties and gave the stock 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 reduced their target price on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, July 21st. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $31.00 target price (up from $30.00) on shares of LaSalle Hotel Properties in a report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $28.88.
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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