Fisher Asset Management LLC reduced its position in RLJ Lodging Trust (NYSE:RLJ) by 5.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,213,858 shares of the real estate investment trust’s stock after selling 129,686 shares during the period. Fisher Asset Management LLC owned 1.34% of RLJ Lodging Trust worth $34,271,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter worth approximately $118,000. AQR Capital Management LLC purchased a new position in shares of RLJ Lodging Trust in the 3rd quarter worth $101,000. Truist Financial Corp acquired a new stake in RLJ Lodging Trust in the 4th quarter valued at $194,000. Teacher Retirement System of Texas acquired a new stake in RLJ Lodging Trust in the 4th quarter valued at $216,000. Finally, Jane Street Group LLC increased its holdings in RLJ Lodging Trust by 13.3% in the 4th quarter. Jane Street Group LLC now owns 18,726 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 2,192 shares in the last quarter. 87.80% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on RLJ shares. Truist Securities upgraded RLJ Lodging Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $13.00 to $19.00 in a research note on Tuesday, April 20th. KeyCorp raised their target price on shares of RLJ Lodging Trust from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, April 21st. Truist Financial raised RLJ Lodging Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.00 to $19.00 in a report on Wednesday, April 14th. Compass Point raised RLJ Lodging Trust from a “neutral” rating to a “buy” rating in a report on Monday, March 8th. Finally, Truist upgraded shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, April 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.86.
Shares of RLJ stock opened at $16.45 on Tuesday. The firm’s 50 day moving average is $15.90 and its 200-day moving average is $13.80. RLJ Lodging Trust has a 1 year low of $7.22 and a 1 year high of $17.51. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -8.75 and a beta of 2.16. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 1.08.
RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Thursday, February 25th. The real estate investment trust reported ($0.57) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.26). RLJ Lodging Trust had a negative net margin of 38.79% and a negative return on equity of 10.73%. On average, equities research analysts forecast that RLJ Lodging Trust will post -1.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Tuesday, March 30th. RLJ Lodging Trust’s payout ratio is 1.97%.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio consists of 103 hotels with approximately 22,570 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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