Cubist Systematic Strategies LLC Buys Shares of 293,486 RLJ Lodging Trust $RLJ

Key Points

• Cubist Systematic Strategies LLC acquired 293,486 shares of RLJ Lodging Trust, valued at approximately $2.3 million, representing about 0.19% of the company.
• RLJ Lodging Trust recently reported $0.48 earnings per share for the quarter, surpassing analyst forecasts of $0.46, while also declaring a quarterly dividend with a yield of 7.6%.
• Analysts have mixed views on RLJ Lodging Trust, with a consensus rating of "Hold" and price target of $9.50, though some have downgraded or upgraded their ratings in light of recent performance.

Cubist Systematic Strategies LLC purchased a new position in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 293,486 shares of the real estate investment trust's stock, valued at approximately $2,316,000. Cubist Systematic Strategies LLC owned approximately 0.19% of RLJ Lodging Trust at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Aberdeen Group plc grew its stake in RLJ Lodging Trust by 3.6% during the 1st quarter. Aberdeen Group plc now owns 41,869 shares of the real estate investment trust's stock worth $330,000 after buying an additional 1,452 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in RLJ Lodging Trust by 0.8% in the first quarter. Asset Management One Co. Ltd. now owns 222,411 shares of the real estate investment trust's stock worth $1,755,000 after acquiring an additional 1,762 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of RLJ Lodging Trust during the fourth quarter worth about $29,000. Versant Capital Management Inc grew its stake in shares of RLJ Lodging Trust by 402.7% during the first quarter. Versant Capital Management Inc now owns 3,675 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 2,944 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of RLJ Lodging Trust during the first quarter valued at about $27,000. Hedge funds and other institutional investors own 92.35% of the company's stock.

RLJ Lodging Trust Stock Performance

Shares of NYSE RLJ opened at $7.86 on Friday. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.19. RLJ Lodging Trust has a 12 month low of $6.16 and a 12 month high of $10.84. The company has a 50 day simple moving average of $7.53 and a two-hundred day simple moving average of $7.65. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 37.40 and a beta of 1.50.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.02. RLJ Lodging Trust had a net margin of 4.23% and a return on equity of 3.03%. The firm had revenue of $363.10 million for the quarter, compared to analyst estimates of $365.30 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The business's quarterly revenue was down 1.7% compared to the same quarter last year. RLJ Lodging Trust has set its FY 2025 guidance at 1.380-1.580 EPS. As a group, analysts predict that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend was Monday, June 30th. RLJ Lodging Trust's payout ratio is 285.71%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RLJ shares. Wall Street Zen cut shares of RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Wells Fargo & Company lifted their price objective on shares of RLJ Lodging Trust from $6.00 to $7.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Finally, Truist Financial upped their target price on RLJ Lodging Trust from $7.00 to $8.00 and gave the company a "hold" rating in a research report on Friday. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, RLJ Lodging Trust currently has a consensus rating of "Hold" and a consensus price target of $9.50.

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.

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