JPMorgan Chase & Co. Reduces Position in LaSalle Hotel Properties (LHO)
JPMorgan Chase & Co. lowered its stake in LaSalle Hotel Properties (NYSE:LHO) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,045,132 shares of the real estate investment trust’s stock after selling 3,828 shares during the quarter. JPMorgan Chase & Co. owned 0.92% of LaSalle Hotel Properties worth $31,145,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Karp Capital Management Corp purchased a new stake in LaSalle Hotel Properties in the first quarter worth approximately $1,090,000. Dimensional Fund Advisors LP boosted its holdings in LaSalle Hotel Properties by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,587,271 shares of the real estate investment trust’s stock worth $45,951,000 after purchasing an additional 34,183 shares during the last quarter. Paragon Capital Management Ltd purchased a new stake in LaSalle Hotel Properties in the second quarter worth approximately $248,000. Legal & General Group Plc boosted its holdings in LaSalle Hotel Properties by 6.8% in the second quarter. Legal & General Group Plc now owns 755,112 shares of the real estate investment trust’s stock worth $22,510,000 after purchasing an additional 48,355 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its holdings in LaSalle Hotel Properties by 526.0% in the first quarter. Virginia Retirement Systems ET AL now owns 62,600 shares of the real estate investment trust’s stock worth $1,812,000 after purchasing an additional 52,600 shares during the last quarter.
COPYRIGHT VIOLATION NOTICE: “JPMorgan Chase & Co. Reduces Position in LaSalle Hotel Properties (LHO)” was originally reported by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://www.watchlistnews.com/jpmorgan-chase-co-reduces-position-in-lasalle-hotel-properties-lho/1570397.html.
LHO has been the topic of several research reports. Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub upgraded shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Robert W. Baird restated a “neutral” rating and issued a $31.00 target price (up previously from $30.00) on shares of LaSalle Hotel Properties in a report on Friday, June 16th. Boenning Scattergood set a $35.00 target price on shares of LaSalle Hotel Properties and gave the stock a “buy” rating in a report on Tuesday, June 27th. Finally, Deutsche Bank AG dropped their target price on shares of LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, July 21st. Three 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 currently has a consensus rating of “Hold” and a consensus target price of $28.88.
LaSalle Hotel Properties (NYSE:LHO) opened at 29.03 on Monday. The stock’s 50 day moving average is $28.39 and its 200 day moving average is $29.11. The stock has a market cap of $3.29 billion, a PE ratio of 10.80 and a beta of 1.17. LaSalle Hotel Properties has a 52 week low of $23.05 and a 52 week high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.01). The business had revenue of $307.04 million during the quarter, compared to analyst estimates of $318.94 million. LaSalle Hotel Properties had a return on equity of 13.05% and a net margin of 27.85%. The firm’s revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 EPS. Analysts predict that LaSalle Hotel Properties will post $1.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.20%. LaSalle Hotel Properties’s payout ratio is currently 66.91%.
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).
Receive News & Ratings for LaSalle Hotel Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LaSalle Hotel Properties and related companies with Analyst Ratings Network's FREE daily email newsletter.