Hsbc Holdings PLC lifted its stake in RLJ Lodging Trust (NYSE:RLJ – Free Report) by 35.1% during the 1st quarter, HoldingsChannel reports. The fund owned 319,926 shares of the real estate investment trust’s stock after buying an additional 83,086 shares during the period. Hsbc Holdings PLC’s holdings in RLJ Lodging Trust were worth $2,375,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Federation des caisses Desjardins du Quebec boosted its holdings in RLJ Lodging Trust by 17.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 10,972 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 1,661 shares during the period. Deutsche Bank AG lifted its stake in shares of RLJ Lodging Trust by 1.4% in the fourth quarter. Deutsche Bank AG now owns 181,568 shares of the real estate investment trust’s stock valued at $1,353,000 after buying an additional 2,453 shares during the period. PNC Financial Services Group Inc. grew its position in RLJ Lodging Trust by 166.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 2,887 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in RLJ Lodging Trust by 2,721.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 3,347 shares during the period. Finally, Daytona Street Capital LLC bought a new position in RLJ Lodging Trust during the fourth quarter valued at about $28,000. Institutional investors own 92.35% of the company’s stock.
RLJ Lodging Trust Trading Up 2.2%
RLJ stock opened at $12.32 on Friday. RLJ Lodging Trust has a 1-year low of $6.54 and a 1-year high of $12.51. The firm has a market cap of $1.87 billion, a P/E ratio of -1,232.50 and a beta of 1.09. The business’s 50 day moving average is $11.00 and its 200-day moving average is $8.99. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.22.
RLJ Lodging Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.9%. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently -6,000.00%.
Wall Street Analysts Forecast Growth
RLJ has been the subject of several recent research reports. Zacks Research raised RLJ Lodging Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Barclays boosted their price objective on RLJ Lodging Trust from $9.00 to $9.50 and gave the company an “underweight” rating in a research report on Tuesday. Oppenheimer restated an “outperform” rating and issued a $13.00 target price (up from $10.00) on shares of RLJ Lodging Trust in a research note on Thursday, June 18th. UBS Group set a $13.00 target price on RLJ Lodging Trust in a research report on Thursday, June 18th. Finally, Bank of America boosted their price target on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the company an “underperform” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, RLJ Lodging Trust has an average rating of “Hold” and a consensus price target of $10.83.
View Our Latest Analysis on RLJ
About RLJ Lodging Trust
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.
Featured Articles
- Five stocks we like better than RLJ Lodging Trust
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
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 – Free Report).
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.
