Texas Permanent School Fund raised its stake in shares of LaSalle Hotel Properties (NYSE:LHO) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 82,662 shares of the real estate investment trust’s stock after buying an additional 807 shares during the period. Texas Permanent School Fund’s holdings in LaSalle Hotel Properties were worth $2,463,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of LaSalle Hotel Properties by 7.8% in the first quarter. Vanguard Group Inc. now owns 19,251,397 shares of the real estate investment trust’s stock valued at $557,328,000 after buying an additional 1,393,862 shares during the period. BlackRock Inc. raised its position in shares of LaSalle Hotel Properties by 6,612.1% in the first quarter. BlackRock Inc. now owns 14,418,107 shares of the real estate investment trust’s stock valued at $417,404,000 after buying an additional 14,203,299 shares during the period. Morgan Stanley raised its position in shares of LaSalle Hotel Properties by 14.9% in the first quarter. Morgan Stanley now owns 6,976,863 shares of the real estate investment trust’s stock valued at $201,980,000 after buying an additional 902,406 shares during the period. Lasalle Investment Management Securities LLC raised its position in shares of LaSalle Hotel Properties by 6.5% in the first quarter. Lasalle Investment Management Securities LLC now owns 6,370,014 shares of the real estate investment trust’s stock valued at $184,412,000 after buying an additional 390,952 shares during the period. Finally, State Street Corp raised its position in shares of LaSalle Hotel Properties by 0.9% in the first quarter. State Street Corp now owns 5,579,874 shares of the real estate investment trust’s stock valued at $161,534,000 after buying an additional 49,203 shares during the period.

Shares of LaSalle Hotel Properties (LHO) opened at 27.89 on Thursday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 10.37 and a beta of 1.16. LaSalle Hotel Properties has a 52-week low of $23.05 and a 52-week high of $31.87. The company has a 50-day moving average price of $29.84 and a 200-day moving average price of $29.48.

LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by $0.01. The company had revenue of $307.04 million for 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 firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. On average, equities analysts anticipate that LaSalle Hotel Properties will post $1.68 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date was Wednesday, June 28th. LaSalle Hotel Properties’s payout ratio is 66.91%.

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A number of equities analysts have recently weighed in on the company. Boenning Scattergood reaffirmed an “outperform” rating on shares of LaSalle Hotel Properties in a research report on Wednesday, April 12th. Zacks Investment Research lowered LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. BidaskClub raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) lowered LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $25.00 to $24.00 in a research report on Wednesday, August 2nd. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $28.00 target price (up from $27.00) on shares of LaSalle Hotel Properties in a research report on Sunday, April 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $28.88.

About LaSalle Hotel Properties

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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