Gabelli Funds LLC raised its holdings in LaSalle Hotel Properties (NYSE:LHO) by 45.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 434,306 shares of the real estate investment trust’s stock after buying an additional 136,679 shares during the quarter. Gabelli Funds LLC owned 0.39% of LaSalle Hotel Properties worth $15,023,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in LHO. FNY Investment Advisers LLC acquired a new stake in LaSalle Hotel Properties in the 2nd quarter valued at approximately $2,086,000. Zeke Capital Advisors LLC acquired a new stake in LaSalle Hotel Properties in the 2nd quarter valued at approximately $212,000. Meeder Asset Management Inc. grew its holdings in LaSalle Hotel Properties by 1,209.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,325 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 3,071 shares during the last quarter. Perella Weinberg Partners Capital Management LP acquired a new stake in LaSalle Hotel Properties in the 2nd quarter valued at approximately $2,349,000. Finally, Harvest Management LLC acquired a new stake in LaSalle Hotel Properties in the 2nd quarter valued at approximately $2,054,000. 97.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LHO stock opened at $33.47 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.47. LaSalle Hotel Properties has a 12 month low of $24.10 and a 12 month high of $36.13. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 2.89 and a beta of 0.99.
LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.05. The company had revenue of $298.00 million during the quarter, compared to the consensus estimate of $291.71 million. LaSalle Hotel Properties had a positive return on equity of 3.56% and a negative net margin of 3.94%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. On average, equities research analysts forecast that LaSalle Hotel Properties will post 2.32 EPS for the current year.
LHO has been the subject of a number of research reports. Zacks Investment Research downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. JPMorgan Chase & Co. raised their price objective on LaSalle Hotel Properties from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Barclays reiterated a “hold” rating and issued a $39.00 price objective on shares of LaSalle Hotel Properties in a research report on Sunday, September 9th. ValuEngine downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, Deutsche Bank set a $32.00 price objective on LaSalle Hotel Properties and gave the stock a “hold” rating in a research report on Friday, October 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. LaSalle Hotel Properties has a consensus rating of “Hold” and a consensus target price of $30.32.
LaSalle Hotel Properties 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 10,452 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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