Arrow Investment Advisors LLC Purchases New Position in LaSalle Hotel Properties (LHO)

Arrow Investment Advisors LLC purchased a new position in shares of LaSalle Hotel Properties (NYSE:LHO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,500 shares of the real estate investment trust’s stock, valued at approximately $671,000.

Several other hedge funds have also recently added to or reduced their stakes in LHO. First Mercantile Trust Co. boosted its stake in shares of LaSalle Hotel Properties by 1.9% during the 2nd quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 70 shares during the period. Ffcm LLC boosted its stake in shares of LaSalle Hotel Properties by 150.1% during the 2nd quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 2,445 shares during the period. IFP Advisors Inc boosted its stake in shares of LaSalle Hotel Properties by 14.9% during the 2nd quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 592 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of LaSalle Hotel Properties during the 1st quarter worth about $178,000. Finally, Neuburgh Advisers LLC boosted its stake in shares of LaSalle Hotel Properties by 2.2% during the 1st quarter. Neuburgh Advisers LLC now owns 6,188 shares of the real estate investment trust’s stock worth $179,000 after purchasing an additional 136 shares during the period.

A number of research firms recently commented on LHO. Goldman Sachs Group, Inc. (The) cut shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $25.00 to $24.00 in a research note on Wednesday, August 2nd. BidaskClub cut shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Boenning Scattergood cut shares of LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 24th. Robert W. Baird set a $31.00 price target on shares of LaSalle Hotel Properties and gave the stock a “hold” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research raised shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $28.88.

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LaSalle Hotel Properties (NYSE:LHO) traded down 0.83% during midday trading on Monday, reaching $28.79. 183,158 shares of the company’s stock traded hands. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 10.71 and a beta of 1.17. LaSalle Hotel Properties has a 1-year low of $23.05 and a 1-year high of $31.87. The firm’s 50-day moving average is $28.39 and its 200-day moving average is $29.11.

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

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

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

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