Envestnet Asset Management Inc. Raises Position in RLJ Lodging Trust (NYSE:RLJ)

Envestnet Asset Management Inc. boosted its position in RLJ Lodging Trust (NYSE:RLJ - Free Report) by 277.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,307 shares of the real estate investment trust's stock after buying an additional 90,640 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of RLJ Lodging Trust worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC lifted its holdings in RLJ Lodging Trust by 97.4% in the third quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust's stock worth $2,495,000 after buying an additional 134,093 shares during the period. JPMorgan Chase & Co. grew its position in shares of RLJ Lodging Trust by 4.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust's stock valued at $47,429,000 after acquiring an additional 240,254 shares during the period. Vert Asset Management LLC raised its stake in RLJ Lodging Trust by 26.5% during the 4th quarter. Vert Asset Management LLC now owns 60,726 shares of the real estate investment trust's stock worth $620,000 after acquiring an additional 12,714 shares during the period. abrdn plc raised its stake in RLJ Lodging Trust by 30.6% during the 4th quarter. abrdn plc now owns 40,417 shares of the real estate investment trust's stock valued at $416,000 after purchasing an additional 9,474 shares during the period. Finally, Choreo LLC lifted its stake in RLJ Lodging Trust by 26.8% in the 4th quarter. Choreo LLC now owns 45,054 shares of the real estate investment trust's stock worth $464,000 after purchasing an additional 9,523 shares in the last quarter. Institutional investors own 92.35% of the company's stock.

Insider Activity at RLJ Lodging Trust

In other news, Director Patricia L. Gibson acquired 10,000 shares of the stock in a transaction on Friday, March 28th. The stock was bought at an average price of $8.03 per share, with a total value of $80,300.00. Following the completion of the transaction, the director now directly owns 124,217 shares of the company's stock, valued at $997,462.51. The trade was a 8.76 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

RLJ Lodging Trust Trading Down 0.6 %

Shares of RLJ Lodging Trust stock opened at $7.05 on Wednesday. RLJ Lodging Trust has a fifty-two week low of $6.16 and a fifty-two week high of $11.16. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a 50 day moving average of $8.02 and a 200 day moving average of $9.18. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 2.87 and a beta of 1.51.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.36. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm had revenue of $329.99 million during the quarter, compared to analysts' expectations of $324.66 million. As a group, research analysts predict that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 8.51%. The ex-dividend date was Monday, March 31st. RLJ Lodging Trust's payout ratio is 222.22%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com cut RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research note on Tuesday. Wells Fargo & Company dropped 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. Truist Financial downgraded RLJ Lodging Trust from a "buy" rating to a "hold" rating and decreased their target price for the stock from $11.00 to $10.00 in a report on Friday, March 21st. Finally, KeyCorp cut their price objective on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.82.

RLJ Lodging Trust Company 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.

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