Michael D. Barnello Acquires 19,398 Shares of LaSalle Hotel Properties (LHO) Stock
LaSalle Hotel Properties (NYSE:LHO) CEO Michael D. Barnello acquired 19,398 shares of the stock in a transaction on Friday, March 2nd. The stock was bought at an average cost of $24.65 per share, for a total transaction of $478,160.70. Following the transaction, the chief executive officer now owns 183,221 shares of the company’s stock, valued at approximately $4,516,397.65. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
LaSalle Hotel Properties (LHO) traded up $0.38 during midday trading on Friday, hitting $25.00. 2,219,291 shares of the stock traded hands, compared to its average volume of 2,834,502. LaSalle Hotel Properties has a one year low of $24.10 and a one year high of $31.75. 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 company has a market capitalization of $2,787.11, a price-to-earnings ratio of 16.34, a P/E/G ratio of 2.35 and a beta of 1.28.
LHO has been the topic of several research reports. Citigroup lowered shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and set a $25.00 price objective on the stock. in a research report on Thursday, December 14th. JPMorgan Chase & Co. lowered shares of LaSalle Hotel Properties from a “neutral” rating to an “underweight” rating and set a $24.00 price objective on the stock. in a research report on Thursday, November 16th. ValuEngine lowered shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Boenning Scattergood lowered shares of LaSalle Hotel Properties from a “neutral” rating to an “under perform” rating in a research report on Friday, December 8th. Finally, Zacks Investment Research lowered shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. Nine research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $26.73.
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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).
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