Principal Financial Group Inc. reduced its holdings in shares of RLJ Lodging Trust (NYSE:RLJ – Free Report) by 20.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 248,986 shares of the real estate investment trust’s stock after selling 65,609 shares during the period. Principal Financial Group Inc.’s holdings in RLJ Lodging Trust were worth $1,847,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the business. Federation des caisses Desjardins du Quebec grew its position in RLJ Lodging Trust by 17.8% in the fourth 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 acquiring an additional 1,661 shares during the last quarter. Deutsche Bank AG lifted its holdings 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 worth $1,353,000 after acquiring an additional 2,453 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of RLJ Lodging Trust by 166.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 2,887 shares in the last quarter. EverSource Wealth Advisors LLC boosted 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. Finally, Daytona Street Capital LLC bought a new stake in shares of RLJ Lodging Trust during the 4th quarter valued at approximately $28,000. 92.35% of the stock is owned by institutional investors and hedge funds.
RLJ Lodging Trust Stock Performance
Shares of RLJ Lodging Trust stock opened at $12.28 on Friday. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.22. RLJ Lodging Trust has a twelve month low of $6.54 and a twelve month high of $12.56. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -1,227.50 and a beta of 1.09. The company’s fifty day moving average is $11.24 and its 200 day moving average is $9.14.
RLJ Lodging Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 4.9%. RLJ Lodging Trust’s dividend payout ratio is presently -6,000.00%.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Weiss Ratings upgraded shares of RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Barclays boosted their target price on shares of RLJ Lodging Trust from $9.00 to $9.50 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. UBS Group set a $13.00 price target on RLJ Lodging Trust in a research note on Thursday, June 18th. Finally, Bank of America raised their price objective on RLJ Lodging Trust from $9.25 to $10.50 and gave the company an “underperform” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, RLJ Lodging Trust currently has a consensus rating of “Hold” and a consensus target price of $10.83.
Read Our Latest Stock Report on RLJ
RLJ Lodging Trust Company 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.
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