Glenmede Trust Co. NA Lowers Stock Holdings in RLJ Lodging Trust $RLJ

Key Points

• Glenmede Trust reduced its RLJ Lodging Trust stake by 8.2% in the first quarter, selling 103,178 shares and retaining 1.16 million shares worth approximately $8.6 million. Institutional investors collectively own 92.35% of RLJ.
• RLJ shares opened at $12.38, near their 52-week high of $12.57, while the stock’s analyst consensus remains “Hold” with an average price target of $10.83.
• The hotel REIT beat quarterly revenue and EPS expectations, reporting $339.98 million in revenue and a loss of $0.05 per share; it also declared a quarterly dividend of $0.15, representing a 4.8% annualized yield.

Glenmede Trust Co. NA reduced its holdings in RLJ Lodging Trust (NYSE:RLJ - Free Report) by 8.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,160,197 shares of the real estate investment trust's stock after selling 103,178 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.76% of RLJ Lodging Trust worth $8,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. grew its holdings in RLJ Lodging Trust by 23.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 13,140,744 shares of the real estate investment trust's stock valued at $97,899,000 after buying an additional 2,463,189 shares during the period. Centersquare Investment Management LLC purchased a new position in shares of RLJ Lodging Trust during the 4th quarter worth about $13,254,000. Aegis Financial Corp acquired a new stake in shares of RLJ Lodging Trust in the fourth quarter worth approximately $9,475,000. Ameriprise Financial Inc. boosted its position in shares of RLJ Lodging Trust by 286.2% in the second quarter. Ameriprise Financial Inc. now owns 1,618,413 shares of the real estate investment trust's stock worth $11,783,000 after acquiring an additional 1,199,318 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in RLJ Lodging Trust by 179.5% in the second quarter. AQR Capital Management LLC now owns 1,434,974 shares of the real estate investment trust's stock valued at $10,447,000 after purchasing an additional 921,548 shares during the period. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

RLJ Lodging Trust Stock Up 1.0%

RLJ opened at $12.38 on Tuesday. The firm has a 50 day moving average price of $11.35 and a 200 day moving average price of $9.20. The company has a market cap of $1.88 billion, a PE ratio of -1,237.50 and a beta of 1.09. RLJ Lodging Trust has a 1 year low of $6.54 and a 1 year high of $12.57. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The firm had revenue of $339.98 million for the quarter, compared to analyst estimates of $323.51 million. During the same quarter last year, the firm posted $0.31 earnings per share. RLJ Lodging Trust's revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts expect that RLJ Lodging Trust will post 1.26 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 4.8%. RLJ Lodging Trust's dividend payout ratio is presently -6,000.00%.

Analyst Upgrades and Downgrades

RLJ has been the subject of several research analyst reports. 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 research report on Thursday, July 23rd. Zacks Research raised shares of RLJ Lodging Trust from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Bank of America upped their price objective on RLJ Lodging Trust from $9.25 to $10.50 and gave the stock an "underperform" rating in a report on Monday, July 20th. Wall Street Zen raised RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Sunday, June 7th. Finally, LADENBURG THALM/SH SH lifted their target price on RLJ Lodging Trust from $9.00 to $12.00 and gave the company a "neutral" rating 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 issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, RLJ Lodging Trust currently has an average rating of "Hold" and a consensus target price of $10.83.

About RLJ Lodging Trust

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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