Invenomic Capital Management LP Takes Position in RLJ Lodging Trust (NYSE:RLJ)

Invenomic Capital Management LP acquired a new position in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 885,028 shares of the real estate investment trust's stock, valued at approximately $9,036,000. Invenomic Capital Management LP owned approximately 0.58% of RLJ Lodging Trust as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its position in shares of RLJ Lodging Trust by 97.4% during the third quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust's stock valued at $2,495,000 after buying an additional 134,093 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in RLJ Lodging Trust by 7.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,331,818 shares of the real estate investment trust's stock worth $34,018,000 after acquiring an additional 232,393 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in RLJ Lodging Trust during the 4th quarter worth $277,000. Entropy Technologies LP bought a new stake in shares of RLJ Lodging Trust in the 4th quarter worth $355,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of RLJ Lodging Trust by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,690,945 shares of the real estate investment trust's stock valued at $37,685,000 after purchasing an additional 98,673 shares during the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.

RLJ Lodging Trust Stock Performance

RLJ Lodging Trust stock traded up $0.10 during trading on Friday, hitting $7.59. The stock had a trading volume of 1,641,063 shares, compared to its average volume of 1,860,657. The stock's 50 day moving average is $7.54 and its two-hundred day moving average is $9.03. RLJ Lodging Trust has a 1 year low of $6.16 and a 1 year high of $10.84. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 2.87 and a beta of 1.50. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The company had revenue of $328.12 million during the quarter, compared to the consensus estimate of $328.08 million. During the same quarter in the prior year, the company earned $0.33 EPS. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, analysts predict that RLJ Lodging Trust will post 1.37 EPS for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 7.91%. RLJ Lodging Trust's payout ratio is 230.77%.

Insider Transactions at RLJ Lodging Trust

In related news, Director Patricia L. Gibson purchased 10,000 shares of the business's stock in a transaction dated Friday, March 28th. The stock was purchased at an average cost of $8.03 per share, with a total value of $80,300.00. Following the completion of the acquisition, the director now directly owns 124,217 shares of the company's stock, valued at approximately $997,462.51. The trade was a 8.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RLJ. KeyCorp dropped their price target on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company cut their target price on RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a research note on Tuesday, February 18th. StockNews.com raised RLJ Lodging Trust from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Truist Financial downgraded RLJ Lodging Trust from a "buy" rating to a "hold" rating and decreased their price target for the company from $11.00 to $10.00 in a research report on Friday, March 21st. Finally, Oppenheimer cut their price objective on RLJ Lodging Trust from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, RLJ Lodging Trust currently has an average rating of "Hold" and an average target price of $10.68.

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.