LaSalle Hotel Properties (LHO) Position Maintained by PGGM Investments
PGGM Investments continued to hold its position in shares of LaSalle Hotel Properties (NYSE:LHO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,047,000 shares of the real estate investment trust’s stock at the end of the second quarter. PGGM Investments owned about 0.92% of LaSalle Hotel Properties worth $31,201,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of LHO. BlackRock Inc. increased its position in shares of LaSalle Hotel Properties by 6,612.1% in the first quarter. BlackRock Inc. now owns 14,418,107 shares of the real estate investment trust’s stock worth $417,404,000 after buying an additional 14,203,299 shares during the last quarter. Vanguard Group Inc. increased its position in shares of LaSalle Hotel Properties by 7.8% in the first quarter. Vanguard Group Inc. now owns 19,251,397 shares of the real estate investment trust’s stock worth $557,328,000 after buying an additional 1,393,862 shares during the last quarter. Norges Bank bought a new position in shares of LaSalle Hotel Properties during the fourth quarter worth about $31,914,000. Morgan Stanley increased its position in shares of LaSalle Hotel Properties by 14.9% in the first quarter. Morgan Stanley now owns 6,976,863 shares of the real estate investment trust’s stock worth $201,980,000 after buying an additional 902,406 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of LaSalle Hotel Properties during the first quarter worth about $18,256,000.
Shares of LaSalle Hotel Properties (NYSE LHO) traded down 0.17% during mid-day trading on Monday, reaching $28.90. 1,559,417 shares of the company traded hands. LaSalle Hotel Properties has a 52 week low of $23.05 and a 52 week high of $31.87. The stock has a market capitalization of $3.27 billion, a PE ratio of 10.75 and a beta of 1.16. The firm has a 50 day moving average of $30.27 and a 200-day moving average of $29.53.
LaSalle Hotel Properties (NYSE:LHO) last posted its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by $0.01. LaSalle Hotel Properties had a net margin of 27.85% and a return on equity of 13.05%. The company had revenue of $307.04 million during the quarter, compared to analysts’ expectations of $318.94 million. During the same quarter last year, the firm earned $0.95 EPS. LaSalle Hotel Properties’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, equities research analysts expect that LaSalle Hotel Properties will post $1.67 EPS for the current fiscal year.
The business 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. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.80 annualized dividend and a yield of 6.23%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 66.91%.
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A number of research analysts have issued reports on LHO shares. Barclays PLC reissued an “underweight” rating and set a $28.00 price objective (up from $27.00) on shares of LaSalle Hotel Properties in a research report on Sunday, April 23rd. Boenning Scattergood reissued an “outperform” rating and set a $35.00 price objective on shares of LaSalle Hotel Properties in a research report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) began coverage on shares of LaSalle Hotel Properties in a research report on Monday, April 10th. They issued a “neutral” rating and a $27.00 target price on the stock. Zacks Investment Research downgraded shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. 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 research report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $28.88.
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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