LaSalle Hotel Properties (LHO) has risen sharply, recording gains of 10.07% in the past 4 weeks. However, the stock has corrected -1.73% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 8.94% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 2.4% and the 50-Day Moving Average is 12.25%. LaSalle Hotel Properties (NYSE:LHO): stock turned positive on Friday. Though the stock opened at $27.7, the bulls momentum made the stock top out at $28.11 level for the day. The stock recorded a low of $27.55 and closed the trading day at $27.88, in the green by 0.40%. The total traded volume for the day was 631,606. The stock had closed at $27.77 in the previous days trading.
The company Insiders own 0.54% of LaSalle Hotel Properties shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -15.88% . During last six month period, the net percent change held by insiders has seen a change of -18.87%. Also, Major Brokerage house, Citigroup maintains its ratings on LaSalle Hotel Properties (NYSE:LHO). In the latest research report, Citigroup raises the target price from $23 per share to $27 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on July 28, 2016.
Lasalle Hotel Properties is a self-managed and self-administered real estate investment trust (REIT). The Company buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and urban business markets. As of December 31, 2014, the Company owned interests in 45 hotels with approximately 11,300 guest rooms located in 10 states and the District of Columbia. LaSalle Hotel Lessee, Inc. (LHL) is the Companys wholly owned REIT subsidiary. Its hotels are leased to LHL that provides for rental payments. The Companys assets are held by, and all of its operations are conducted through, LaSalle Hotel Operating Partnership, L.P. (the Operating Partnership). The Company is the sole general partner of the Operating Partnership.