Duff & Phelps Investment Management Co. Has $40.23 Million Position in RLJ Lodging Trust (NYSE:RLJ)

Duff & Phelps Investment Management Co. raised its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 49.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,024,468 shares of the real estate investment trust’s stock after buying an additional 666,350 shares during the period. Duff & Phelps Investment Management Co. owned approximately 1.62% of RLJ Lodging Trust worth $40,226,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. New York State Teachers Retirement System raised its position in shares of RLJ Lodging Trust by 0.9% in the first quarter. New York State Teachers Retirement System now owns 10,800 shares of the real estate investment trust’s stock valued at $254,000 after buying an additional 100 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of RLJ Lodging Trust by 2.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,913 shares of the real estate investment trust’s stock valued at $468,000 after buying an additional 440 shares in the last quarter. SG Americas Securities LLC raised its position in shares of RLJ Lodging Trust by 8.0% in the first quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 615 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of RLJ Lodging Trust by 0.3% in the first quarter. Russell Investments Group Ltd. now owns 241,474 shares of the real estate investment trust’s stock valued at $5,677,000 after buying an additional 645 shares in the last quarter. Finally, Boston Private Wealth LLC raised its position in shares of RLJ Lodging Trust by 4.6% in the first quarter. Boston Private Wealth LLC now owns 16,373 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 716 shares in the last quarter. Institutional investors and hedge funds own 99.94% of the company’s stock.

Shares of RLJ Lodging Trust (NYSE:RLJ) opened at 19.89 on Friday. RLJ Lodging Trust has a 12-month low of $18.92 and a 12-month high of $25.10. The firm has a 50-day moving average of $20.39 and a 200 day moving average of $21.79. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 13.72 and a beta of 1.16.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The firm had revenue of $292.28 million for the quarter, compared to the consensus estimate of $293.16 million. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.16%. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 EPS. On average, equities research analysts expect that RLJ Lodging Trust will post $1.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.33 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.64%. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 91.03%.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Stock Observer and is the property of of Stock Observer. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.thestockobserver.com/2017/08/12/duff-phelps-investment-management-co-has-40-23-million-position-in-rlj-lodging-trust-nyserlj.html.

RLJ has been the topic of several analyst reports. Boenning Scattergood set a $20.00 target price on shares of RLJ Lodging Trust and gave the stock a “sell” rating in a report on Tuesday, July 18th. Canaccord Genuity reiterated a “hold” rating and issued a $21.00 target price on shares of RLJ Lodging Trust in a report on Monday, August 7th. Royal Bank Of Canada reiterated a “buy” rating and issued a $25.00 target price on shares of RLJ Lodging Trust in a report on Friday, August 4th. Zacks Investment Research lowered shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of RLJ Lodging Trust from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 20th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $24.71.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.

Want to see what other hedge funds are holding RLJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RLJ Lodging Trust (NYSE:RLJ).

Institutional Ownership by Quarter for RLJ Lodging Trust (NYSE:RLJ)

Receive News & Ratings for RLJ Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLJ Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply