4,013,093 Shares in LaSalle Hotel Properties (LHO) Acquired by Brookfield Asset Management Inc.

Brookfield Asset Management Inc. bought a new stake in shares of LaSalle Hotel Properties (NYSE:LHO) during the third quarter, Holdings Channel reports. The firm bought 4,013,093 shares of the real estate investment trust’s stock, valued at approximately $95,793,000. LaSalle Hotel Properties comprises 0.6% of Brookfield Asset Management Inc.’s portfolio, making the stock its 28th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in LHO. Riverhead Capital Management LLC raised its position in LaSalle Hotel Properties by 5,013.6% in the third quarter. Riverhead Capital Management LLC now owns 4,500 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 4,412 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in LaSalle Hotel Properties during the second quarter valued at about $116,000. LS Investment Advisors LLC raised its position in LaSalle Hotel Properties by 5.7% in the third quarter. LS Investment Advisors LLC now owns 7,154 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 388 shares during the last quarter. Independent Portfolio Consultants Inc. raised its position in LaSalle Hotel Properties by 5.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 7,300 shares of the real estate investment trust’s stock valued at $174,000 after buying an additional 345 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in LaSalle Hotel Properties by 8.3% in the third quarter. Tower Research Capital LLC TRC now owns 8,056 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 618 shares during the last quarter.

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

Shares of LaSalle Hotel Properties (NYSE:LHO) traded up 0.46% during mid-day trading on Monday, hitting $30.55. 159,452 shares of the company were exchanged. The company has a market capitalization of $3.45 billion, a P/E ratio of 14.62 and a beta of 1.17. LaSalle Hotel Properties has a 52 week low of $21.56 and a 52 week high of $31.87. The company has a 50 day moving average of $30.35 and a 200 day moving average of $27.49.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.92%. The ex-dividend date was Wednesday, December 28th. LaSalle Hotel Properties’s payout ratio is 86.12%.

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Several research firms recently issued reports on LHO. Instinet began coverage on shares of LaSalle Hotel Properties in a report on Wednesday, December 14th. They issued a “neutral” rating and a $31.00 target price on the stock. Zacks Investment Research lowered shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, December 21st. Wells Fargo & Company lowered shares of LaSalle Hotel Properties from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 13th. Stifel Nicolaus upped their target price on shares of LaSalle Hotel Properties from $26.00 to $28.50 and gave the stock a “hold” rating in a report on Friday, January 6th. Finally, Nomura initiated coverage on shares of LaSalle Hotel Properties in a report on Wednesday, December 14th. They issued a “neutral” rating and a $31.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.23.

About LaSalle Hotel Properties

Lasalle Hotel Properties is a self-administered and self-managed real estate investment trust (REIT). The Company primarily buys, owns, redevelops and leases upscale and luxury hotels located in convention, resort and urban business markets. The Company owns interest in approximately 50 hotels with over 12,000 guest rooms located in approximately 10 states and the District of Columbia.

5 Day Chart for NYSE:LHO

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