Los Angeles Capital Management & Equity Research Inc. lowered its position in LaSalle Hotel Properties (NYSE:LHO) by 59.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,360 shares of the real estate investment trust’s stock after selling 15,454 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in LaSalle Hotel Properties were worth $301,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of LHO. First Mercantile Trust Co. grew its position in shares of 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 buying an additional 70 shares during the last quarter. Ffcm LLC grew its position in shares of 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 buying an additional 2,445 shares during the last quarter. IFP Advisors Inc grew its position in shares of 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 buying an additional 592 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of LaSalle Hotel Properties in the 3rd quarter worth approximately $174,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of LaSalle Hotel Properties in the 3rd quarter worth approximately $212,000.
LaSalle Hotel Properties (LHO) traded down $0.24 during trading hours on Monday, reaching $28.20. 1,502,900 shares of the company’s stock traded hands, compared to its average volume of 1,278,505. The stock has a market cap of $3,240.00, a P/E ratio of 11.02, a PEG ratio of 2.29 and a beta of 1.11. LaSalle Hotel Properties has a 12 month low of $27.44 and a 12 month high of $31.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.22 and a current ratio of 3.22.
LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.46). LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The company had revenue of $285.90 million for the quarter, compared to analysts’ expectations of $295.02 million. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. research analysts anticipate that LaSalle Hotel Properties will post 2.46 earnings per share for the current fiscal year.
In other LaSalle Hotel Properties news, COO Alfred L. Young sold 17,750 shares of LaSalle Hotel Properties stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total transaction of $501,970.00. Following the completion of the sale, the chief operating officer now directly owns 88,808 shares in the company, valued at approximately $2,511,490.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.
A number of research analysts have recently issued reports on the stock. ValuEngine downgraded shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus reaffirmed a “hold” rating on shares of LaSalle Hotel Properties in a research report on Tuesday, October 17th. BidaskClub downgraded shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Robert W. Baird set a $31.00 price objective on shares of LaSalle Hotel Properties and gave the stock a “hold” rating in a research report on Sunday, October 1st. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of LaSalle Hotel Properties in a research report on Monday, October 30th. Five equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $28.47.
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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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