Neuberger Berman Group LLC Cuts Stake in LaSalle Hotel Properties (LHO)

Neuberger Berman Group LLC lessened its holdings in LaSalle Hotel Properties (NYSE:LHO) by 31.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,485 shares of the real estate investment trust’s stock after selling 119,362 shares during the quarter. Neuberger Berman Group LLC owned 0.23% of LaSalle Hotel Properties worth $7,501,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. California Public Employees Retirement System increased its holdings in LaSalle Hotel Properties by 3.7% during the third quarter. California Public Employees Retirement System now owns 320,623 shares of the real estate investment trust’s stock worth $9,304,000 after buying an additional 11,364 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in LaSalle Hotel Properties by 58.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,766 shares of the real estate investment trust’s stock worth $312,000 after buying an additional 3,956 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in LaSalle Hotel Properties during the third quarter worth $601,000. AMP Capital Investors Ltd increased its holdings in LaSalle Hotel Properties by 251.2% during the third quarter. AMP Capital Investors Ltd now owns 157,144 shares of the real estate investment trust’s stock worth $4,561,000 after buying an additional 112,400 shares during the last quarter. Finally, Royce & Associates LP acquired a new position in LaSalle Hotel Properties during the third quarter worth $798,000.

LaSalle Hotel Properties (NYSE LHO) opened at $28.61 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.22 and a quick ratio of 3.22. LaSalle Hotel Properties has a fifty-two week low of $27.44 and a fifty-two week high of $31.87. The company has a market cap of $3,240.00, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.45 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.80 annualized dividend and a dividend yield of 6.29%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 111.11%.

In related news, COO Alfred L. Young sold 17,750 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,511,490.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.

A number of brokerages recently weighed in on LHO. Boenning Scattergood restated a “hold” rating on shares of LaSalle Hotel Properties in a report on Monday, October 23rd. TheStreet downgraded shares of LaSalle Hotel Properties from a “b” rating to a “c+” rating in a report on Friday, October 20th. Stifel Nicolaus restated a “hold” rating on shares of LaSalle Hotel Properties in a report on Tuesday, October 17th. ValuEngine downgraded shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Finally, Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Seven analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. LaSalle Hotel Properties presently has an average rating of “Hold” and an average target price of $27.96.

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LaSalle Hotel Properties Company 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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