Systematic Financial Management LP Lowers Stake in LaSalle Hotel Properties (LHO)
Systematic Financial Management LP reduced its stake in shares of LaSalle Hotel Properties (NYSE:LHO) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,915 shares of the real estate investment trust’s stock after selling 2,295 shares during the period. Systematic Financial Management LP’s holdings in LaSalle Hotel Properties were worth $1,636,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. First Mercantile Trust Co. lifted its position in LaSalle Hotel Properties by 1.9% during the second quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 70 shares during the period. Ffcm LLC lifted its position in LaSalle Hotel Properties by 150.1% during the second quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 2,445 shares during the period. IFP Advisors Inc lifted its position in LaSalle Hotel Properties by 14.9% during the second quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 592 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in LaSalle Hotel Properties during the first quarter valued at $178,000. Finally, Neuburgh Advisers LLC lifted its position in LaSalle Hotel Properties by 2.2% during the first quarter. Neuburgh Advisers LLC now owns 6,188 shares of the real estate investment trust’s stock valued at $179,000 after purchasing an additional 136 shares during the period.
A number of research analysts recently issued reports on the stock. Goldman Sachs Group, Inc. (The) downgraded shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and decreased their target price for the company from $25.00 to $24.00 in a research report on Wednesday, August 2nd. BidaskClub downgraded shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Boenning Scattergood downgraded shares of LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 24th. Robert W. Baird set a $31.00 target price on shares of LaSalle Hotel Properties and gave the company a “hold” rating in a research report on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $28.88.
Shares of LaSalle Hotel Properties (LHO) opened at 29.03 on Monday. The stock has a market cap of $3.29 billion, a PE ratio of 10.80 and a beta of 1.17. The stock’s 50 day moving average is $28.39 and its 200-day moving average is $29.11. LaSalle Hotel Properties has a 1-year low of $23.05 and a 1-year high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.81 EPS for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $318.94 million. During the same quarter last year, the business earned $0.95 EPS. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, analysts predict that LaSalle Hotel Properties will post $1.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend is Thursday, September 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is 66.91%.
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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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