Russell Investments Group Ltd. Has $28.66 Million Holdings in LaSalle Hotel Properties (LHO)
Russell Investments Group Ltd. raised its stake in shares of LaSalle Hotel Properties (NYSE:LHO) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 987,610 shares of the real estate investment trust’s stock after purchasing an additional 26,968 shares during the period. Russell Investments Group Ltd. owned 0.87% of LaSalle Hotel Properties worth $28,663,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Chiron Investment Management LLC acquired a new position in LaSalle Hotel Properties during the second quarter valued at approximately $8,132,000. Kennedy Capital Management Inc. acquired a new position in LaSalle Hotel Properties during the second quarter valued at approximately $2,980,000. Legal & General Group Plc grew its holdings in LaSalle Hotel Properties by 6.8% during the second quarter. Legal & General Group Plc now owns 755,112 shares of the real estate investment trust’s stock valued at $22,510,000 after purchasing an additional 48,355 shares during the last quarter. Paragon Capital Management Ltd acquired a new position in LaSalle Hotel Properties during the second quarter valued at approximately $248,000. Finally, Rhumbline Advisers grew its holdings in LaSalle Hotel Properties by 2.6% during the second quarter. Rhumbline Advisers now owns 276,918 shares of the real estate investment trust’s stock valued at $8,252,000 after purchasing an additional 6,946 shares during the last quarter.
LHO has been the topic of several analyst reports. Morgan Stanley lowered their price target on LaSalle Hotel Properties from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. Zacks Investment Research downgraded LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. UBS Group AG downgraded shares of LaSalle Hotel Properties from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. Citigroup Inc. lowered their price objective on shares of LaSalle Hotel Properties from $29.00 to $26.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 25th. Finally, Robert W. Baird set a $31.00 price objective on shares of LaSalle Hotel Properties and gave the stock a “hold” rating in a research note on Friday, August 25th. Five investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $28.47.
LaSalle Hotel Properties (NYSE:LHO) last issued its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.46). The firm had revenue of $285.90 million during the quarter, compared to the consensus estimate of $295.02 million. LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. analysts predict that LaSalle Hotel Properties will post 2.46 EPS for the current year.
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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