Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in RLJ Lodging Trust (RLJ)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,098 shares of the real estate investment trust’s stock after selling 3,290 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RLJ Lodging Trust were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System lifted its position in shares of RLJ Lodging Trust by 0.9% during the 1st 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 acquiring an additional 100 shares during the period. Denver Investment Advisors LLC lifted its position in shares of RLJ Lodging Trust by 0.9% during the 2nd quarter. Denver Investment Advisors LLC now owns 11,000 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 100 shares during the period. Utah Retirement Systems lifted its position in shares of RLJ Lodging Trust by 2.6% during the 2nd quarter. Utah Retirement Systems now owns 11,707 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 300 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of RLJ Lodging Trust by 2.3% during the 1st 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 acquiring an additional 440 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of RLJ Lodging Trust by 8.0% during the 1st quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock valued at $196,000 after acquiring an additional 615 shares during the period.

In related news, Director Nathaniel A. Davis sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total value of $201,100.00. Following the completion of the sale, the director now owns 72,928 shares in the company, valued at approximately $1,466,582.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Forgia Robert M. La purchased 5,000 shares of RLJ Lodging Trust stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average price of $19.73 per share, with a total value of $98,650.00. Following the transaction, the director now owns 37,528 shares in the company, valued at approximately $740,427.44. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

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RLJ has been the subject of a number of research reports. Boenning Scattergood reiterated a “sell” rating and set a $19.50 price target on shares of RLJ Lodging Trust in a research report on Wednesday, June 14th. Royal Bank Of Canada restated a “buy” rating and set a $25.00 price objective on shares of RLJ Lodging Trust in a research report on Friday, August 4th. BidaskClub downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Janney Montgomery Scott restated a “buy” rating and set a $28.00 price objective (up from $26.00) on shares of RLJ Lodging Trust in a research report on Monday, June 5th. Finally, ValuEngine downgraded RLJ Lodging Trust from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $24.44.

Shares of RLJ Lodging Trust (NYSE RLJ) opened at 21.36 on Wednesday. The stock has a market capitalization of $2.64 billion, a PE ratio of 14.73 and a beta of 1.17. The firm has a 50-day moving average of $20.34 and a 200 day moving average of $21.26. RLJ Lodging Trust has a 1-year low of $18.92 and a 1-year high of $25.10.

RLJ Lodging Trust (NYSE:RLJ) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The business had revenue of $292.28 million during the quarter, compared to analyst estimates of $293.16 million. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.16%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 earnings per share. On average, equities analysts anticipate that RLJ Lodging Trust will post $0.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 30th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.88 annualized dividend and a dividend yield of 4.12%. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently 60.69%.

RLJ Lodging Trust Profile

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.

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

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