Hsbc Holdings PLC Has $2.38 Million Stock Position in RLJ Lodging Trust $RLJ

Key Points

• HSBC Holdings PLC increased its stake in RLJ Lodging Trust by 35.1% in the first quarter, ending with 319,926 shares valued at about $2.38 million.
• Wall Street sentiment on RLJ remains mixed, with a consensus rating of “Hold” and a consensus price target of $10.83 despite several recent target-price increases.
• RLJ Lodging Trust reported quarterly results that beat expectations, posted $339.98 million in revenue, and continued its dividend with a $0.15 per share payout, implying a 4.9% yield.

Hsbc Holdings PLC raised its position in RLJ Lodging Trust (NYSE:RLJ - Free Report) by 35.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,926 shares of the real estate investment trust's stock after purchasing an additional 83,086 shares during the quarter. Hsbc Holdings PLC owned approximately 0.21% of RLJ Lodging Trust worth $2,375,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RLJ. Federation des caisses Desjardins du Quebec lifted its holdings in shares of RLJ Lodging Trust by 17.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 10,972 shares of the real estate investment trust's stock valued at $82,000 after buying an additional 1,661 shares during the last quarter. Deutsche Bank AG increased its holdings in RLJ Lodging Trust by 1.4% in the fourth quarter. Deutsche Bank AG now owns 181,568 shares of the real estate investment trust's stock worth $1,353,000 after buying an additional 2,453 shares during the last quarter. PNC Financial Services Group Inc. raised its position in RLJ Lodging Trust by 166.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 2,887 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in RLJ Lodging Trust by 2,721.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 3,347 shares in the last quarter. Finally, Daytona Street Capital LLC acquired a new stake in RLJ Lodging Trust in the fourth quarter valued at approximately $28,000. 92.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RLJ has been the subject of several recent research reports. UBS Group set a $13.00 target price on shares of RLJ Lodging Trust in a research report on Thursday, June 18th. Oppenheimer reaffirmed an "outperform" rating and issued a $13.00 price objective (up from $10.00) on shares of RLJ Lodging Trust in a research note on Thursday, June 18th. Truist Financial upped their price objective on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a "hold" rating in a report on Friday, June 12th. Barclays increased their target price on shares of RLJ Lodging Trust from $9.00 to $9.50 and gave the stock an "underweight" rating in a research report on Tuesday. Finally, Weiss Ratings upgraded RLJ Lodging Trust from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.83.

RLJ Lodging Trust Stock Up 2.2%

Shares of RLJ Lodging Trust stock opened at $12.32 on Friday. RLJ Lodging Trust has a 12-month low of $6.54 and a 12-month high of $12.51. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average price of $11.00 and a two-hundred day moving average price of $8.99. The stock has a market capitalization of $1.87 billion, a P/E ratio of -1,232.50 and a beta of 1.09.

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

RLJ Lodging Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, June 30th. RLJ Lodging Trust's payout ratio is currently -6,000.00%.

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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