RLJ Lodging Trust (NYSE:RLJ) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in RLJ Lodging Trust (NYSE:RLJ - Free Report) by 277.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 123,307 shares of the real estate investment trust's stock after acquiring an additional 90,640 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of RLJ Lodging Trust worth $1,259,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in RLJ. US Bancorp DE grew its holdings in RLJ Lodging Trust by 78.2% during the 4th quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 1,417 shares in the last quarter. Xponance Inc. purchased a new position in RLJ Lodging Trust in the fourth quarter valued at $112,000. EntryPoint Capital LLC lifted its holdings in RLJ Lodging Trust by 23.8% during the 4th quarter. EntryPoint Capital LLC now owns 13,659 shares of the real estate investment trust's stock worth $139,000 after buying an additional 2,624 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of RLJ Lodging Trust during the 4th quarter worth about $146,000. Finally, Metis Global Partners LLC increased its holdings in shares of RLJ Lodging Trust by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 17,594 shares of the real estate investment trust's stock valued at $180,000 after acquiring an additional 1,796 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RLJ. StockNews.com downgraded RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Tuesday, April 29th. KeyCorp lowered their target price 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. Truist Financial lowered shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and cut their price target for the stock from $11.00 to $10.00 in a research note on Friday, March 21st. Finally, Wells Fargo & Company dropped their price objective on RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a report on Tuesday, February 18th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $10.82.

Insider Transactions at RLJ Lodging Trust

In other RLJ Lodging Trust news, Director Patricia L. Gibson acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average price 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.60% of the company's stock.

RLJ Lodging Trust Stock Performance

Shares of NYSE:RLJ traded down $0.12 on Monday, reaching $7.15. The company's stock had a trading volume of 166,882 shares, compared to its average volume of 2,304,643. RLJ Lodging Trust has a 52-week low of $6.16 and a 52-week high of $10.87. The stock has a market capitalization of $1.08 billion, a P/E ratio of 24.64, a PEG ratio of 2.87 and a beta of 1.51. The stock's 50-day moving average is $7.90 and its two-hundred day moving average is $9.14. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, meeting analysts' consensus estimates of $0.31. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. During the same period last year, the business posted $0.33 EPS. The company's revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that RLJ Lodging Trust will post 1.37 EPS for the current year.

RLJ Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 8.40%. The ex-dividend date was Monday, March 31st. RLJ Lodging Trust's payout ratio is 222.22%.

About RLJ Lodging Trust

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.