Axa Decreases Holdings in LaSalle Hotel Properties (LHO)

Axa cut its holdings in shares of LaSalle Hotel Properties (NYSE:LHO) by 21.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 212,720 shares of the real estate investment trust’s stock after selling 58,000 shares during the quarter. Axa owned 0.19% of LaSalle Hotel Properties worth $6,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of LaSalle Hotel Properties by 7.8% during the 1st 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. lifted its holdings in shares of LaSalle Hotel Properties by 6,612.1% during the 1st 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 lifted its holdings in shares of LaSalle Hotel Properties by 14.9% during the 1st 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 lifted its holdings in shares of LaSalle Hotel Properties by 6.5% during the 1st 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 lifted its holdings in shares of LaSalle Hotel Properties by 0.9% during the 1st 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.

Several equities research analysts have recently issued reports on LHO shares. Robert W. Baird reiterated a “neutral” rating and set a $31.00 price target (up from $30.00) on shares of LaSalle Hotel Properties in a report on Friday, June 16th. Deutsche Bank AG reduced their price target on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating for the company in a report on Friday, July 21st. Boenning Scattergood set a $35.00 price target on LaSalle Hotel Properties and gave the company a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, BidaskClub upgraded LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.88.

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LaSalle Hotel Properties (NYSE LHO) opened at 29.03 on Friday. LaSalle Hotel Properties has a 12 month low of $23.05 and a 12 month high of $31.87. The company has a market capitalization of $3.29 billion, a P/E ratio of 10.80 and a beta of 1.17. The firm has a 50-day moving average price of $28.39 and a 200 day moving average price of $29.11.

LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $307.04 million during the quarter, compared to analyst estimates of $318.94 million. During the same period in the previous year, the business earned $0.95 earnings per share. The business’s quarterly revenue was down 12.5% on a year-over-year basis. Analysts expect that LaSalle Hotel Properties will post $1.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.20%. LaSalle Hotel Properties’s payout ratio is 66.91%.

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).

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Institutional Ownership by Quarter for LaSalle Hotel Properties (NYSE:LHO)

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