Robert W. Baird Reiterates Neutral Rating for LaSalle Hotel Properties (LHO)

Robert W. Baird reiterated their neutral rating on shares of LaSalle Hotel Properties (NYSE:LHO) in a report released on Friday, June 16th. Robert W. Baird currently has a $31.00 price target on the real estate investment trust’s stock, up from their previous price target of $30.00.

A number of other equities research analysts have also recently issued reports on the stock. Barclays PLC reiterated an underweight rating and issued a $28.00 price objective (up from $27.00) on shares of LaSalle Hotel Properties in a report on Sunday, April 23rd. Boenning Scattergood restated an outperform rating and set a $35.00 price target on shares of LaSalle Hotel Properties in a report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) started coverage on shares of LaSalle Hotel Properties in a report on Monday, April 10th. They set a neutral rating and a $27.00 price target for the company. Zacks Investment Research lowered shares of LaSalle Hotel Properties from a hold rating to a sell rating in a research report on Wednesday, April 26th. Finally, BidaskClub raised shares of LaSalle Hotel Properties from a hold rating to a buy rating in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. LaSalle Hotel Properties currently has a consensus rating of Hold and an average target price of $28.96.

Shares of LaSalle Hotel Properties (NYSE LHO) traded up 0.50% during midday trading on Friday, reaching $30.27. The company had a trading volume of 666,434 shares. The company has a market capitalization of $3.43 billion, a P/E ratio of 11.25 and a beta of 1.16. LaSalle Hotel Properties has a 52 week low of $23.02 and a 52 week high of $31.87. The company’s 50 day moving average price is $29.64 and its 200-day moving average price is $29.63.

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The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.80 annualized dividend and a yield of 5.95%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 66.91%.

In related news, COO Alfred L. Young sold 15,000 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $30.44, for a total transaction of $456,600.00. Following the sale, the chief operating officer now directly owns 100,027 shares in the company, valued at $3,044,821.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

A number of large investors have recently modified their holdings of LHO. Vanguard Group Inc. increased its position in LaSalle Hotel Properties by 7.8% in the first quarter. Vanguard Group Inc. now owns 19,251,397 shares of the real estate investment trust’s stock valued at $557,328,000 after buying an additional 1,393,862 shares during the last quarter. BlackRock Inc. increased its position in LaSalle Hotel Properties by 6,612.1% in the first quarter. BlackRock Inc. now owns 14,418,107 shares of the real estate investment trust’s stock valued at $417,404,000 after buying an additional 14,203,299 shares during the last quarter. Morgan Stanley increased its position in 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 valued at $201,980,000 after buying an additional 902,406 shares during the last quarter. Lasalle Investment Management Securities LLC increased its position in LaSalle Hotel Properties by 6.5% in the first quarter. Lasalle Investment Management Securities LLC now owns 6,370,014 shares of the real estate investment trust’s stock valued at $184,412,000 after buying an additional 390,952 shares during the last quarter. Finally, State Street Corp increased its position in 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 valued at $161,534,000 after buying an additional 49,203 shares during the last quarter.

About LaSalle Hotel Properties

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).

Analyst Recommendations for LaSalle Hotel Properties (NYSE:LHO)

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