Belvedere Trading LLC Purchases Shares of 17,194 RLJ Lodging Trust $RLJ

Belvedere Trading LLC purchased a new stake in shares of RLJ Lodging Trust (NYSE:RLJ) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 17,194 shares of the real estate investment trust’s stock, valued at approximately $125,000.

Several other large investors have also added to or reduced their stakes in RLJ. Woodline Partners LP grew its stake in RLJ Lodging Trust by 192.4% during the 1st quarter. Woodline Partners LP now owns 2,782,181 shares of the real estate investment trust’s stock valued at $21,951,000 after purchasing an additional 1,830,803 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of RLJ Lodging Trust by 2,455.6% in the first quarter. Victory Capital Management Inc. now owns 469,769 shares of the real estate investment trust’s stock worth $3,706,000 after buying an additional 451,387 shares during the last quarter. LSV Asset Management boosted its stake in shares of RLJ Lodging Trust by 23.8% in the first quarter. LSV Asset Management now owns 1,662,214 shares of the real estate investment trust’s stock worth $13,115,000 after buying an additional 319,319 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of RLJ Lodging Trust in the first quarter worth about $2,316,000. Finally, Martingale Asset Management L P boosted its stake in shares of RLJ Lodging Trust by 2,220.0% in the first quarter. Martingale Asset Management L P now owns 304,964 shares of the real estate investment trust’s stock worth $2,406,000 after buying an additional 291,819 shares during the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

Wall Street Analysts Forecast Growth

RLJ has been the topic of a number of recent research reports. Truist Financial upped their target price on RLJ Lodging Trust from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Wells Fargo & Company upgraded RLJ Lodging Trust to a “strong sell” rating in a research note on Friday, October 3rd. Baird R W downgraded RLJ Lodging Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of RLJ Lodging Trust in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded RLJ Lodging Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.10.

RLJ Lodging Trust Stock Performance

NYSE RLJ opened at $7.06 on Tuesday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 33.63 and a beta of 1.49. RLJ Lodging Trust has a twelve month low of $6.16 and a twelve month high of $10.84. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average of $7.36 and a 200 day moving average of $7.33.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The company had revenue of $363.10 million during the quarter, compared to analysts’ expectations of $365.30 million. RLJ Lodging Trust had a return on equity of 3.03% and a net margin of 4.23%.RLJ Lodging Trust’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS. RLJ Lodging Trust has set its FY 2025 guidance at 1.380-1.580 EPS. Sell-side analysts anticipate that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.5%. RLJ Lodging Trust’s dividend payout ratio is presently 285.71%.

RLJ Lodging Trust 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 currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.