Invenomic Capital Management LP Sells 750,958 Shares of RLJ Lodging Trust $RLJ

Key Points

• Invenomic Capital Management LP reduced its holdings in RLJ Lodging Trust by 84.9%, selling 750,958 shares and retaining only 134,070 shares, now valued at $1,058,000.
• Institutional investors increased their stakes in RLJ Lodging Trust, with Price T Rowe Associates growing its position by 9.9% while Northern Trust Corp boosted its stake by 25.4%.
• RLJ Lodging Trust reported a Q2 earnings per share (EPS) of $0.48, exceeding estimates, despite a revenue decline of 1.7% year-over-year.

Invenomic Capital Management LP reduced its holdings in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 84.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,070 shares of the real estate investment trust's stock after selling 750,958 shares during the quarter. Invenomic Capital Management LP owned 0.09% of RLJ Lodging Trust worth $1,058,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. grew its holdings in shares of RLJ Lodging Trust by 17.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 946,341 shares of the real estate investment trust's stock valued at $7,467,000 after buying an additional 139,865 shares during the last quarter. Amundi boosted its holdings in RLJ Lodging Trust by 12.3% during the first quarter. Amundi now owns 90,874 shares of the real estate investment trust's stock worth $717,000 after purchasing an additional 9,983 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in RLJ Lodging Trust during the first quarter worth about $2,316,000. DRW Securities LLC purchased a new position in RLJ Lodging Trust during the first quarter worth about $106,000. Finally, State of Wyoming purchased a new position in RLJ Lodging Trust during the first quarter worth about $90,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.

RLJ Lodging Trust Price Performance

RLJ Lodging Trust stock traded up $0.11 during midday trading on Thursday, reaching $7.73. 440,657 shares of the stock were exchanged, compared to its average volume of 2,125,682. The company's fifty day moving average is $7.55 and its 200-day moving average is $7.62. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.48 and a current ratio of 2.48. The firm has a market cap of $1.17 billion, a PE ratio of 36.79 and a beta of 1.50. RLJ Lodging Trust has a 52 week low of $6.16 and a 52 week high of $10.84.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its earnings results 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 business 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 firm posted $0.51 EPS. RLJ Lodging Trust's revenue was down 1.7% on a year-over-year basis. RLJ Lodging Trust has set its FY 2025 guidance at 1.380-1.580 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.8%. RLJ Lodging Trust's dividend payout ratio is 285.71%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Zacks Research upgraded shares of RLJ Lodging Trust from a "strong sell" rating to a "hold" rating in a report on Tuesday. Wall Street Zen lowered shares of RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Truist Financial lifted their price objective on shares of RLJ Lodging Trust from $7.00 to $8.00 and gave the stock a "hold" rating in a research report on Friday, September 5th. Finally, 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 report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $9.50.

RLJ Lodging Trust 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.