LaSalle Hotel Properties (NYSE:LHO) posted its earnings results on Wednesday. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $326.90 million for the quarter, compared to analyst estimates of $328.95 million. LaSalle Hotel Properties had a return on equity of 6.51% and a net margin of 11.54%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 EPS.

LaSalle Hotel Properties (NYSE:LHO) traded up 1.24% during midday trading on Wednesday, hitting $25.23. 1,737,198 shares of the stock were exchanged. The company’s 50 day moving average is $24.97 and its 200 day moving average is $24.93. The company has a market capitalization of $2.85 billion, a P/E ratio of 22.13 and a beta of 1.35. LaSalle Hotel Properties has a 1-year low of $19.01 and a 1-year high of $32.10.

Earnings History for LaSalle Hotel Properties (NYSE:LHO)

The business also recently declared a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were paid a $0.45 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.13%. LaSalle Hotel Properties’s payout ratio is currently 157.90%.

In other news, insider Michael D. Barnello sold 150,000 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $28.49, for a total transaction of $4,273,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Alfred L. Young sold 17,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $28.11, for a total value of $477,870.00. Following the sale, the chief operating officer now owns 90,024 shares in the company, valued at $2,530,574.64. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC boosted its stake in shares of 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 in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of 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 in the last quarter. Piermont Capital Management Inc. bought a new stake in shares of LaSalle Hotel Properties during the second quarter valued at $2,724,000. Credit Suisse AG boosted its stake in shares of 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 in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of 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 in the last quarter.

A number of analysts have recently issued reports on LHO shares. Citigroup Inc. raised their target price 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. Barclays PLC set a $25.00 price target on shares of LaSalle Hotel Properties and gave the stock a “sell” rating in a research report on Thursday, July 21st. BTIG Research began coverage on shares of LaSalle Hotel Properties in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Zacks Investment Research raised shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 16th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of LaSalle Hotel Properties in a research report on Sunday, June 26th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $26.85.

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.

5 Day Chart for NYSE:LHO

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