OppenheimerFunds Inc. grew its stake in LaSalle Hotel Properties (NYSE:LHO) by 18.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,126 shares of the real estate investment trust’s stock after acquiring an additional 11,526 shares during the quarter. OppenheimerFunds Inc. owned 0.06% of LaSalle Hotel Properties worth $2,053,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in LaSalle Hotel Properties during the 3rd quarter worth approximately $174,000. Ladenburg Thalmann Financial Services Inc. increased its stake in LaSalle Hotel Properties by 58.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,766 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 3,956 shares in the last quarter. Eqis Capital Management Inc. increased its stake in LaSalle Hotel Properties by 27.1% during the 4th quarter. Eqis Capital Management Inc. now owns 11,810 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 2,521 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in LaSalle Hotel Properties during the 3rd quarter worth approximately $356,000. Finally, Alps Advisors Inc. increased its stake in LaSalle Hotel Properties by 26.3% during the 3rd quarter. Alps Advisors Inc. now owns 16,206 shares of the real estate investment trust’s stock worth $470,000 after purchasing an additional 3,372 shares in the last quarter.
A number of analysts recently issued reports on the company. Robert W. Baird raised LaSalle Hotel Properties from a “neutral” rating to an “outperform” rating and set a $27.00 target price for the company in a research note on Monday, March 5th. Zacks Investment Research cut LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Royal Bank of Canada reissued a “hold” rating and set a $26.00 target price on shares of LaSalle Hotel Properties in a research note on Friday, February 23rd. Barclays lowered their target price on LaSalle Hotel Properties from $27.00 to $24.00 and set an “underweight” rating for the company in a research note on Thursday, February 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $24.00 target price (down from $27.00) on shares of LaSalle Hotel Properties in a research note on Thursday, February 22nd. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.73.
LaSalle Hotel Properties (NYSE:LHO) opened at $25.87 on Tuesday. LaSalle Hotel Properties has a 12-month low of $24.10 and a 12-month high of $31.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.30 and a current ratio of 3.30. The firm has a market capitalization of $2,941.07, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 2.47 and a beta of 1.28.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.39). LaSalle Hotel Properties had a return on equity of 8.11% and a net margin of 17.65%. The firm had revenue of $257.51 million for the quarter, compared to analyst estimates of $261.42 million. sell-side analysts expect that LaSalle Hotel Properties will post 2.1 earnings per share for the current year.
In other news, CEO Michael D. Barnello purchased 19,398 shares of LaSalle Hotel Properties stock in a transaction on Friday, March 2nd. The stock was purchased at an average price of $24.65 per share, with a total value of $478,160.70. Following the transaction, the chief executive officer now directly owns 183,221 shares in the company, valued at approximately $4,516,397.65. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “LaSalle Hotel Properties (LHO) Stake Increased by OppenheimerFunds Inc.” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://ledgergazette.com/2018/03/13/lasalle-hotel-properties-lho-stake-increased-by-oppenheimerfunds-inc.html.
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).
Receive News & Ratings for LaSalle Hotel Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LaSalle Hotel Properties and related companies with MarketBeat.com's FREE daily email newsletter.