LaSalle Hotel Properties (LHO) Shares Bought by Legal & General Group Plc

Legal & General Group Plc boosted its position in LaSalle Hotel Properties (NYSE:LHO) by 5.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 797,764 shares of the real estate investment trust’s stock after purchasing an additional 42,652 shares during the period. Legal & General Group Plc owned approximately 0.70% of LaSalle Hotel Properties worth $23,150,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LHO. American International Group Inc. lifted its position in shares of LaSalle Hotel Properties by 2.8% during the 3rd quarter. American International Group Inc. now owns 307,969 shares of the real estate investment trust’s stock valued at $8,937,000 after acquiring an additional 8,272 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of LaSalle Hotel Properties by 7.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,838 shares of the real estate investment trust’s stock valued at $721,000 after acquiring an additional 1,778 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of LaSalle Hotel Properties by 16.0% during the 3rd quarter. Pacer Advisors Inc. now owns 20,990 shares of the real estate investment trust’s stock valued at $609,000 after acquiring an additional 2,889 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of LaSalle Hotel Properties by 15.7% during the 3rd quarter. Macquarie Group Ltd. now owns 1,195,590 shares of the real estate investment trust’s stock valued at $34,696,000 after acquiring an additional 162,067 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of LaSalle Hotel Properties by 12.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,072,956 shares of the real estate investment trust’s stock valued at $31,142,000 after acquiring an additional 121,461 shares during the last quarter.

In other news, COO Alfred L. Young sold 17,750 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total value of $501,970.00. Following the transaction, the chief operating officer now directly owns 88,808 shares of the company’s stock, valued at $2,511,490.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Shares of LaSalle Hotel Properties (NYSE:LHO) opened at $28.05 on Friday. The stock has a market capitalization of $3,176.16, a price-to-earnings ratio of 10.96, a PEG ratio of 2.28 and a beta of 1.11. LaSalle Hotel Properties has a 1-year low of $27.44 and a 1-year high of $31.87. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45.

LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.46). LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The company had revenue of $285.90 million during the quarter, compared to analyst estimates of $295.02 million. During the same period last year, the company posted $0.84 earnings per share. The company’s revenue was down 12.5% compared to the same quarter last year. sell-side analysts expect that LaSalle Hotel Properties will post 2.46 EPS for the current fiscal year.

LHO has been the subject of a number of recent research reports. Boenning Scattergood downgraded LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 24th. BidaskClub lowered LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Robert W. Baird set a $31.00 target price on LaSalle Hotel Properties and gave the company a “hold” rating in a report on Friday, August 25th. Zacks Investment Research lowered LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Finally, Stifel Nicolaus restated a “hold” rating on shares of LaSalle Hotel Properties in a report on Tuesday, October 17th. Six equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $28.47.

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LaSalle Hotel Properties 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).

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

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