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We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds’ and investors’ portfolio positions as of September 30th. In this article, we look at what those funds think of LaSalle Hotel Properties (NYSE:LHO) based on that […]
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Pebblebrook Hotel Trust officially closed its $5.2 billion acquisition of fellow Bethesda hospitality REIT LaSalle Hotel Properties on Friday, ending a long pursuit that was months in the making. LaSalle (NYSE: LHO) shareholders were given 0.92 shares of Pebblebrook (NYSE: PEB) stock per share of LaSalle stock or the cash equivalent of $37.80 per share — which LaSalle claims is a 48 percent premium over its stock price before merger rumors first caused it to sway. The cash component of the deal is fixed at approximately $1.3 billion, according to Securities and Exchange Commission filings.
LaSalle Hotel Properties (LHO) (“LaSalle” or the “Company”) today announced the completion of its previously announced merger with Pebblebrook Hotel Trust (“Pebblebrook”). Michael D. Barnello, President and Chief Executive Officer of LaSalle Hotel Properties, said, “We are pleased to complete this combination. Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are acting as financial advisors to LaSalle and Goodwin Procter LLP and DLA Piper LLP (US) are acting as legal counsel.
Pebblebrook Hotel Trust’s $5.2 billion acquisition of fellow Bethesda hospitality REIT LaSalle Hotel Properties has received the approval of shareholders of both companies. Pebblebrook’s holders signed off Tuesday on the issuance of stock to LaSalle shareholders as part of a deal forged in September following Pebblebrook’s long and complicated pursuit of the company. The final offer that won LaSalle (NYSE: LHO) was 0.92 shares of Pebblebrook (NYSE: PEB) stock per share of LaSalle stock, with up to 30 percent of the shares eligible for cash at $37.80 per share — which LaSalle claims is a 48 percent premium over its stock price before merger rumors first caused it to sway.
LaSalle Hotel Properties (LHO) (“LaSalle” or the “Company”) today announced that its shareholders voted to approve its previously announced merger with Pebblebrook Hotel Trust (PEB) (“Pebblebrook”). At the special meeting of LaSalle common shareholders, held on November 27, 2018, approximately 99% of the shares voted were cast in favor of the merger, representing more than 86% of LaSalle’s total outstanding common shares. Pebblebrook also announced today that its shareholders voted to approve the issuance of Pebblebrook common shares to the holders of LaSalle common shares pursuant to the definitive merger agreement under which Pebblebrook will acquire 100% of LaSalle’s outstanding common shares (the “Merger Agreement”).
NEW YORK , Nov. 26, 2018 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 prior to the open of trading on Monday, December 3 : S&P ...
The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Index (PMI) data, output in the Financials sector is rising.
LaSalle Hotel Properties (LHO) (“LaSalle” or the “Company”) today announced that leading independent proxy advisory firms, Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co., LLC (“Glass Lewis”) have recommended LaSalle shareholders vote “FOR” the pending merger with Pebblebrook Hotel Trust (PEB).
NEW YORK, Nov. 07, 2018 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
LaSalle Hotel Properties (LHO) delivered FFO and revenue surprises of 7.25% and 2.51%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $81.4 million, or 74 cents per share, in the period. The average estimate of eight analysts surveyed ...
NEW YORK , Nov. 1, 2018 /PRNewswire/ -- Beneficial Bancorp Inc. (BNCL) Lifshitz & Miller announces investigation into possible breaches of fiduciary duties in connection with the sale of BNCL to WSFS ...
LaSalle Hotel Properties (LHO) (“LaSalle” or the “Company”) today has posted the following list of Frequently Asked Questions (“FAQs”) to the investor relations section of the Company’s website, https://ir.lasallehotels.com/, regarding how LaSalle shareholders can elect to receive cash consideration or common share consideration in connection with the pending merger transaction with Pebblebrook Hotel Trust (PEB) (“Pebblebrook”). How do I make an election if I am a record holder of LaSalle common shares?
LaSalle Hotel Properties today announced preliminary results for the third quarter ended September 30, 2018, including net income, room revenue per available room , adjusted EBITDAre and adjusted FFO attributable to common shareholders and unitholders per diluted share/unit.
A Maryland REIT will market the 803-room Westin Copley Place in Boston’s Back Bay for sale — it's the fourth-largest hotel in Massachusetts, according the BBJ research.
Pebblebrook Hotel Trust (PEB) (“Pebblebrook”) and LaSalle Hotel Properties (LHO) (“LaSalle”) announced today that their pending merger transaction is on schedule for a planned closing date of November 30, 2018. Pebblebrook and LaSalle will each hold a special meeting of its shareholders on November 27, 2018 to approve Pebblebrook’s proposed acquisition of LaSalle. Pebblebrook and LaSalle shareholders of record as of the close of business on October 23, 2018 will be entitled to vote at the applicable special meeting of shareholders.
LaSalle Hotel Properties (LHO) (“LaSalle” or the “Company”) today announced it will report financial results for the third quarter 2018 on Thursday, November 1, 2018 after the market closes. Given the pending merger transaction with Pebblebrook Hotel Trust (PEB) (“Pebblebrook”), LaSalle will not host an investor conference call this quarter. LaSalle Hotel Properties is a leading multi-operator real estate investment trust.
According to the GuruFocus All-In-One Screener, the following real estate stocks are popular among gurus. Warning! GuruFocus has detected 7 Warning Signs with HPT. The stock is trading with a price-earnings ratio of 45.20.