Pioneer Investment Management Inc. increased its stake in shares of LaSalle Hotel Properties (NYSE:LHO) by 52.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 82,101 shares of the real estate investment trust’s stock after buying an additional 28,146 shares during the period. Pioneer Investment Management Inc. owned approximately 0.07% of LaSalle Hotel Properties worth $2,447,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. bought a new position in LaSalle Hotel Properties during the first quarter valued at $1,781,000. Breton Hill Capital Ltd. boosted its position in LaSalle Hotel Properties by 17.7% in the first quarter. Breton Hill Capital Ltd. now owns 35,978 shares of the real estate investment trust’s stock valued at $1,042,000 after buying an additional 5,402 shares in the last quarter. IFP Advisors Inc boosted its position in LaSalle Hotel Properties by 9.4% in the first quarter. IFP Advisors Inc now owns 3,985 shares of the real estate investment trust’s stock valued at $115,000 after buying an additional 343 shares in the last quarter. Miller Howard Investments Inc. NY boosted its position in LaSalle Hotel Properties by 0.5% in the first quarter. Miller Howard Investments Inc. NY now owns 245,495 shares of the real estate investment trust’s stock valued at $7,107,000 after buying an additional 1,160 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in 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 in the last quarter.

LaSalle Hotel Properties (NYSE LHO) opened at 28.16 on Tuesday. The firm’s 50 day moving average is $29.61 and its 200-day moving average is $29.41. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 10.47 and a beta of 1.16. LaSalle Hotel Properties has a 12 month low of $23.05 and a 12 month high of $31.87.

LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly 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 business had revenue of $307.04 million during the quarter, compared to the consensus estimate of $318.94 million. During the same period last year, the firm earned $0.95 EPS. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, equities analysts forecast that LaSalle Hotel Properties will post $1.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.39%. The ex-dividend date of this dividend was Wednesday, June 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is currently 66.91%.

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Several research firms have weighed in on LHO. Boenning Scattergood set a $35.00 price target on shares of LaSalle Hotel Properties and gave the company a “buy” rating in a report on Tuesday, June 27th. Robert W. Baird reissued a “neutral” rating and issued a $31.00 price target (up from $30.00) on shares of LaSalle Hotel Properties in a report on Friday, June 16th. BidaskClub raised shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Zacks Investment Research cut shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Finally, Goldman Sachs Group, Inc. (The) cut shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and lowered their price target for the company from $25.00 to $24.00 in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price 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).

Institutional Ownership by Quarter for LaSalle Hotel Properties (NYSE:LHO)

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