LaSalle Hotel Properties, a leading multi-operator real estate investment trust, announced today it has increased its monthly dividend by 21% to $0.17 per common share, to be paid for the months April, May and June. LaSalle's annualized dividend payout is now $2.04/share. Based on yesterday's close of $47.50, it has an annualized dividend yield of 4.3%. CFO Hans Weger commented the increase "reaffirms the Company's commitment to providing a reliable stream of income to our shareholders and our confidence in the ongoing performance of our portfolio." LaSalle says the April dividend will be paid on May 15, to shareholders of record on April 30. It reports Q1 results and presents its 2007 outlook next Wednesday after the market closes, with a conference call the following afternoon. Shares of LaSalle have traded between $40.01 - $49.24 over the past year.
Sources: Press release
Commentary: Housing Bubble and Real Estate Market Tracker • Institutional Investors Dumping REITs as Equity Office Deal Pressures Yields
Stocks/ETFs to watch: LaSalle Hotel Properties (LHO). Competitors: FelCor Lodging Trust (FCH), Hospitality Properties Trust (HPT), Starwood Hotels & Resorts Worldwide (HOT)
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