LaSalle Hotel Properties (NYSE:LHO), saw a top tier insider lower his exposure to the company. Chief Financial Officer, Executive Vice President and Secretary Bruce A. Riggins disposed of 11,000 shares of common stock at prices ranging from $36.10 to $36.20 per share. After the filing of this transaction, Riggins now has 36,020 shares directly invested in LaSalle Hotel Properties (NYSE:LHO), the $3.75 billion market cap company that acts as a self-managed and self-administered real estate investment trust (REIT). The Company primarily buys, owns, redevelops and leases full-service hotels located in convention, resort and major urban business markets.
Despite being an investment trust itself, there are hedge fund’s involved with the company. Chuck Royce‘s Royce & Associates reported a decrease of 7% in activity last quarter, now holding 777,800 shares worth about $24.4 million; while Renaissance Technologies, the hedge fund controlled by Jim Simons rose it’s involvement by 189% last quarter, and now has 735,400 shares worth approximately $23 million invested in LaSalle Hotel Properties (NYSE:LHO).
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.