Alps Advisors Inc. trimmed its stake in LaSalle Hotel Properties (NYSE:LHO) by 43.5% in the second quarter, Holdings Channel reports. The fund owned 18,828 shares of the real estate investment trust’s stock after selling 14,507 shares during the quarter. Alps Advisors Inc.’s holdings in LaSalle Hotel Properties were worth $529,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LHO. Dupont Capital Management Corp purchased a new stake in shares of LaSalle Hotel Properties in the second quarter worth about $183,000. Kassirer Asset Management Corp purchased a new stake in shares of LaSalle Hotel Properties in the second quarter worth about $342,000. Harvest Management LLC purchased a new stake in shares of LaSalle Hotel Properties in the second quarter worth about $2,054,000. Perella Weinberg Partners Capital Management LP purchased a new stake in shares of LaSalle Hotel Properties in the second quarter worth about $2,349,000. Finally, Meeder Asset Management Inc. boosted its position in shares of LaSalle Hotel Properties by 1,209.1% in the second quarter. Meeder Asset Management Inc. now owns 3,325 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 3,071 shares during the period.
Several brokerages have recently weighed in on LHO. ValuEngine downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Saturday, June 16th. JPMorgan Chase & Co. upped their target price on LaSalle Hotel Properties from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Zacks Investment Research downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. BTIG Research raised LaSalle Hotel Properties from a “neutral” rating to a “buy” rating in a report on Friday, May 18th. Finally, Boenning Scattergood reissued a “hold” rating on shares of LaSalle Hotel Properties in a report on Friday, May 11th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.29.
Shares of LHO opened at $34.44 on Wednesday. The stock has a market capitalization of $3.81 billion, a P/E ratio of 13.94 and a beta of 1.09. LaSalle Hotel Properties has a one year low of $24.10 and a one year high of $36.13. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.46.
LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.49). The business had revenue of $304.60 million during the quarter, compared to analysts’ expectations of $300.86 million. LaSalle Hotel Properties had a net margin of 7.08% and a return on equity of 3.31%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 EPS. research analysts anticipate that LaSalle Hotel Properties will post 2.27 EPS for the current year.
About LaSalle Hotel Properties
LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 41 properties, which are upscale, full-service hotels, totaling 10,452 guest rooms in 11 markets in seven states and the District of Columbia. The Company focuses on owning, redeveloping and repositioning upscale, full-service hotels located in urban, resort and convention markets.
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