Envestnet Asset Management Inc. raised its stake in LaSalle Hotel Properties (NYSE:LHO) by 217.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,878 shares of the real estate investment trust’s stock after acquiring an additional 17,039 shares during the quarter. Envestnet Asset Management Inc.’s holdings in LaSalle Hotel Properties were worth $698,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in LaSalle Hotel Properties by 4,082.5% in the 4th quarter. Assetmark Inc. now owns 4,057 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 3,960 shares during the period. Elkfork Partners LLC bought a new position in LaSalle Hotel Properties in the 4th quarter valued at about $285,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in LaSalle Hotel Properties by 58.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,766 shares of the real estate investment trust’s stock valued at $312,000 after acquiring an additional 3,956 shares during the period. Eqis Capital Management Inc. raised its holdings in LaSalle Hotel Properties by 27.1% in the 4th quarter. Eqis Capital Management Inc. now owns 11,810 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 2,521 shares during the period. Finally, Flinton Capital Management LLC raised its holdings in LaSalle Hotel Properties by 29.1% in the 4th quarter. Flinton Capital Management LLC now owns 12,936 shares of the real estate investment trust’s stock valued at $363,000 after acquiring an additional 2,912 shares during the period.
Shares of NYSE:LHO opened at $29.94 on Friday. LaSalle Hotel Properties has a 12-month low of $24.10 and a 12-month high of $31.75. The company has a market cap of $3,389.36, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.12. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.45.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.01%. LaSalle Hotel Properties’s payout ratio is presently 72.87%.
Several research firms have weighed in on LHO. Boenning Scattergood reissued a “sell” rating on shares of LaSalle Hotel Properties in a report on Thursday, February 22nd. Zacks Investment Research raised shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, January 9th. Barclays lowered their price target on shares of LaSalle Hotel Properties from $27.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, February 22nd. Royal Bank of Canada reissued a “hold” rating and issued a $26.00 price target on shares of LaSalle Hotel Properties in a report on Friday, February 23rd. Finally, ValuEngine cut shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a report on Wednesday. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $26.96.
In other LaSalle Hotel Properties news, CEO Michael D. Barnello bought 19,398 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were purchased at an average price of $24.65 per share, for a total transaction of $478,160.70. Following the transaction, the chief executive officer now directly owns 183,221 shares in the company, valued at approximately $4,516,397.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.
LaSalle Hotel Properties Company Profile
LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 41 properties, which are upscale, full-service hotels, totaling approximately 10,400 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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