Public Employees Retirement System of Ohio lessened its holdings in shares of RLJ Lodging Trust (NYSE:RLJ – Free Report) by 28.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,943 shares of the real estate investment trust’s stock after selling 58,712 shares during the period. Public Employees Retirement System of Ohio owned about 0.10% of RLJ Lodging Trust worth $1,098,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in shares of RLJ Lodging Trust by 29.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,374 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its position 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 acquiring an additional 1,661 shares during the last quarter. State of Wyoming increased its stake in RLJ Lodging Trust by 12.3% in the first quarter. State of Wyoming now owns 17,904 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 1,963 shares during the period. Deutsche Bank AG increased its stake in 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 purchasing an additional 2,453 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of 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 worth $25,000 after purchasing an additional 3,347 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.
RLJ Lodging Trust Stock Up 1.0%
Shares of RLJ Lodging Trust stock opened at $12.38 on Tuesday. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.22. The company has a market cap of $1.88 billion, a P/E ratio of -1,237.50 and a beta of 1.09. The firm’s 50 day moving average price is $11.35 and its 200-day moving average price is $9.20. RLJ Lodging Trust has a 52-week low of $6.54 and a 52-week high of $12.57.
RLJ Lodging Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.8%. The ex-dividend date was Tuesday, June 30th. RLJ Lodging Trust’s payout ratio is -6,000.00%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of RLJ Lodging Trust from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Truist Financial raised their target price on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, June 12th. Bank of America boosted their price target on RLJ Lodging Trust from $9.25 to $10.50 and gave the company an “underperform” rating in a report on Monday, July 20th. LADENBURG THALM/SH SH raised their price objective on RLJ Lodging Trust from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $13.00 target price (up from $10.00) on shares of RLJ Lodging Trust in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.83.
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.
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