Thrivent Financial for Lutherans Lowers Stake in RLJ Lodging Trust $RLJ

Thrivent Financial for Lutherans cut its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 56.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 86,223 shares of the real estate investment trust’s stock after selling 112,783 shares during the period. Thrivent Financial for Lutherans’ holdings in RLJ Lodging Trust were worth $621,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of RLJ Lodging Trust by 2,721.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 3,347 shares in the last quarter. KBC Group NV raised its holdings in RLJ Lodging Trust by 55.2% in the second quarter. KBC Group NV now owns 5,258 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,870 shares during the period. Valeo Financial Advisors LLC purchased a new position in RLJ Lodging Trust in the second quarter valued at approximately $76,000. Captrust Financial Advisors acquired a new position in RLJ Lodging Trust during the second quarter valued at approximately $93,000. Finally, Belvedere Trading LLC acquired a new position in RLJ Lodging Trust during the second quarter valued at approximately $125,000. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robin Mcbride Zeigler sold 13,413 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $7.51, for a total value of $100,731.63. Following the completion of the transaction, the director owned 37,159 shares of the company’s stock, valued at approximately $279,064.09. This represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

RLJ has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of RLJ Lodging Trust in a research report on Monday, December 29th. Raymond James Financial raised shares of RLJ Lodging Trust from a “market perform” rating to a “strong-buy” rating and set a $9.00 price target for the company in a research report on Wednesday, November 12th. Barclays started coverage on RLJ Lodging Trust in a report on Tuesday, January 6th. They issued an “underweight” rating and a $6.00 price target for the company. Finally, Zacks Research upgraded RLJ Lodging Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, RLJ Lodging Trust currently has an average rating of “Hold” and an average target price of $8.64.

RLJ Lodging Trust Price Performance

Shares of RLJ stock opened at $8.31 on Tuesday. RLJ Lodging Trust has a twelve month low of $6.16 and a twelve month high of $9.81. The company has a market capitalization of $1.25 billion, a PE ratio of 166.10 and a beta of 1.12. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.21. The firm has a fifty day simple moving average of $7.71 and a 200-day simple moving average of $7.45.

RLJ Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 7.2%. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 1,200.00%.

RLJ Lodging Trust Profile

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.