Hg Vora Capital Management, LLC
stated that they own a 7.1% stake in LaSalle Hotel Properties (NYSE:LHO) in a Schedule 13D disclosure that was filed with the SEC on Monday, April 2nd. The investor owns 8,000,012 shares of the stock valued at $240,240,360. The filing is available through EDGAR at this link.
Shares of NYSE LHO traded up $1.02 during mid-day trading on Monday, hitting $30.03. The company’s stock had a trading volume of 372,178 shares, compared to its average volume of 2,273,308. The firm has a market capitalization of $3,284.08, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.76 and a beta of 1.11. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.45. LaSalle Hotel Properties has a one year low of $24.10 and a one year high of $31.75.
LaSalle Hotel Properties (NYSE:LHO) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.39). The business had revenue of $257.51 million during the quarter, compared to the consensus estimate of $261.42 million. LaSalle Hotel Properties had a net margin of 17.65% and a return on equity of 8.11%. equities research analysts anticipate that LaSalle Hotel Properties will post 2.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.99%. The ex-dividend date is Wednesday, March 28th. LaSalle Hotel Properties’s payout ratio is 72.87%.
In other news, CEO Michael D. Barnello acquired 19,398 shares of LaSalle Hotel Properties stock in a transaction that occurred on Friday, March 2nd. The shares were acquired at an average price of $24.65 per share, with a total value of $478,160.70. Following the purchase, the chief executive officer now directly owns 183,221 shares of the company’s stock, valued at $4,516,397.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.43% of the stock is owned by company insiders.
LHO has been the subject of a number of research reports. Zacks Investment Research raised shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, January 9th. ValuEngine upgraded shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research note on Wednesday, March 28th. Morgan Stanley restated an “equal weight” rating and issued a $24.00 price objective (down previously from $27.00) on shares of LaSalle Hotel Properties in a research note on Thursday, February 22nd. Deutsche Bank dropped their price objective on shares of LaSalle Hotel Properties from $28.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus dropped their price objective on shares of LaSalle Hotel Properties from $28.50 to $25.50 and set a “hold” rating for the company in a research note on Wednesday, February 21st. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target 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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