Principal Financial Group Inc. lifted its stake in LaSalle Hotel Properties (NYSE:LHO) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,483,070 shares of the real estate investment trust’s stock after purchasing an additional 29,861 shares during the quarter. Principal Financial Group Inc. owned about 2.19% of LaSalle Hotel Properties worth $72,059,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of LHO. First Mercantile Trust Co. increased its holdings in shares of LaSalle Hotel Properties by 1.9% in 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 last quarter. Ffcm LLC grew its position in LaSalle Hotel Properties by 150.1% in the second quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 2,445 shares during the period. IFP Advisors Inc grew its position in LaSalle Hotel Properties by 14.9% in the second quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock worth $136,000 after acquiring an additional 592 shares during the period. Fox Run Management L.L.C. purchased a new position in LaSalle Hotel Properties in the third quarter worth approximately $212,000. Finally, World Asset Management Inc purchased a new position in LaSalle Hotel Properties in the second quarter worth approximately $214,000.
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LaSalle Hotel Properties (NYSE LHO) opened at $28.42 on Tuesday. LaSalle Hotel Properties has a 52-week low of $26.20 and a 52-week high of $31.87. The company has a market capitalization of $3,229.37, a price-to-earnings ratio of 11.14, a PEG ratio of 2.32 and a beta of 1.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.22 and a current ratio of 3.22.
LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.46). The company had revenue of $285.90 million during the quarter, compared to analysts’ expectations of $295.02 million. LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share. equities research analysts predict that LaSalle Hotel Properties will post 2.46 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.80 dividend on an annualized basis and a yield of 6.33%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 111.11%.
LHO has been the subject of several analyst reports. Wells Fargo & Company lowered their price objective on LaSalle Hotel Properties from $30.00 to $29.00 and set a “market perform” rating for the company in a research report on Tuesday, October 24th. Robert W. Baird set a $31.00 price objective on LaSalle Hotel Properties and gave the stock a “hold” rating in a research report on Friday, August 25th. Citigroup Inc. lowered their price objective on LaSalle Hotel Properties from $29.00 to $26.50 and set a “neutral” rating for the company in a research report on Wednesday, October 25th. BidaskClub lowered LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, UBS AG lowered LaSalle Hotel Properties from an “outperform” rating to a “market perform” rating in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.00.
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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