Vanguard Group Inc. grew its stake in shares of LaSalle Hotel Properties (NYSE:LHO) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,095,440 shares of the real estate investment trust’s stock after purchasing an additional 844,043 shares during the quarter. Vanguard Group Inc. owned approximately 17.75% of LaSalle Hotel Properties worth $598,844,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of LaSalle Hotel Properties by 3.2% in the second quarter. BlackRock Inc. now owns 14,874,256 shares of the real estate investment trust’s stock worth $443,254,000 after purchasing an additional 456,149 shares during the last quarter. Morgan Stanley increased its stake 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 period. State Street Corp increased its stake in shares of LaSalle Hotel Properties by 0.9% in the first quarter. State Street Corp now owns 5,579,874 shares of the real estate investment trust’s stock worth $161,534,000 after buying an additional 49,203 shares during the period. Northern Trust Corp increased its stake in shares of LaSalle Hotel Properties by 8.6% in the second quarter. Northern Trust Corp now owns 4,336,299 shares of the real estate investment trust’s stock worth $129,222,000 after buying an additional 344,154 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of LaSalle Hotel Properties by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 2,512,376 shares of the real estate investment trust’s stock worth $74,868,000 after buying an additional 19,629 shares during the period.

ILLEGAL ACTIVITY NOTICE: “Vanguard Group Inc. Has $598.84 Million Stake in LaSalle Hotel Properties (LHO)” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/02/vanguard-group-inc-has-598-84-million-stake-in-lasalle-hotel-properties-lho.html.

LaSalle Hotel Properties (LHO) opened at 29.02 on Monday. The company has a 50-day moving average of $28.35 and a 200-day moving average of $29.10. The company has a market capitalization of $3.29 billion, a P/E ratio of 10.79 and a beta of 1.18. 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 posted its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.01). The company had revenue of $307.04 million during the quarter, compared to the consensus estimate of $318.94 million. LaSalle Hotel Properties had a return on equity of 13.05% and a net margin of 27.85%. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 earnings per share. Equities analysts expect 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 issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.80 dividend on an annualized basis and a yield of 6.20%. LaSalle Hotel Properties’s payout ratio is 66.91%.

Several equities research analysts have weighed in on the stock. Goldman Sachs Group, Inc. (The) cut shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and dropped their price target for the company from $25.00 to $24.00 in a research report on Wednesday, August 2nd. BidaskClub cut shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Boenning Scattergood cut shares of LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 24th. Zacks Investment Research downgraded shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Finally, Robert W. Baird set a $31.00 price objective on shares of LaSalle Hotel Properties and gave the company a “hold” rating in a research note on Friday, August 25th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. LaSalle Hotel Properties presently has an average rating of “Hold” and an average target price of $28.88.

LaSalle Hotel Properties 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)

Receive News & Stock 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 stocks with our FREE daily email newsletter.