Teacher Retirement System of Texas cut its stake in shares of LaSalle Hotel Properties (NYSE:LHO) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 179,607 shares of the real estate investment trust’s stock after selling 1,034 shares during the period. Teacher Retirement System of Texas’ holdings in LaSalle Hotel Properties were worth $5,352,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its stake in LaSalle Hotel Properties by 1.5% in the second quarter. Arizona State Retirement System now owns 47,700 shares of the real estate investment trust’s stock valued at $1,421,000 after buying an additional 700 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in LaSalle Hotel Properties by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,431,318 shares of the real estate investment trust’s stock valued at $42,654,000 after buying an additional 154,294 shares in the last quarter. Pioneer Investment Management Inc. increased its stake in LaSalle Hotel Properties by 52.2% in the second quarter. Pioneer Investment Management Inc. now owns 82,101 shares of the real estate investment trust’s stock valued at $2,447,000 after buying an additional 28,146 shares in the last quarter. IFP Advisors Inc increased its stake in LaSalle Hotel Properties by 14.9% in the second quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 592 shares in the last quarter. Finally, Sei Investments Co. increased its stake in LaSalle Hotel Properties by 21.1% in the second quarter. Sei Investments Co. now owns 115,794 shares of the real estate investment trust’s stock valued at $3,451,000 after buying an additional 20,151 shares in the last quarter.

LaSalle Hotel Properties (LHO) opened at 28.09 on Wednesday. LaSalle Hotel Properties has a 12-month low of $23.05 and a 12-month high of $31.87. The company has a market cap of $3.18 billion, a PE ratio of 10.45 and a beta of 1.16. The company’s 50-day moving average price is $29.52 and its 200-day moving average price is $29.38.

LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm had revenue of $307.04 million during the quarter, compared to analysts’ expectations of $318.94 million. LaSalle Hotel Properties had a net margin of 27.85% and a return on equity of 13.05%. The company’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. Equities analysts anticipate that LaSalle Hotel Properties will post $1.68 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.80 annualized dividend and a yield of 6.41%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is 66.91%.

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Several analysts have issued reports on the company. Goldman Sachs Group, Inc. (The) downgraded LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and dropped their price target for the company from $25.00 to $24.00 in a research note on Wednesday, August 2nd. BidaskClub downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Deutsche Bank AG dropped their price target on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, July 21st. Boenning Scattergood set a $35.00 price target on LaSalle Hotel Properties and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $31.00 price target (up previously from $30.00) on shares of LaSalle Hotel Properties in a research note on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.88.

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

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