Invesco Ltd. Cuts Stake in RLJ Lodging Trust $RLJ

Key Points

• Invesco Ltd. has reduced its holdings in RLJ Lodging Trust by 11.7% in the first quarter, now owning approximately $8.74 million worth of shares.
• The company reported $0.48 EPS for the last quarter, exceeding analysts' expectations of $0.46, but showed a 1.7% revenue decline year-over-year.
• RLJ Lodging Trust announced a quarterly dividend of $0.15, with a high annualized yield of 7.8%, although its dividend payout ratio stands at 285.71%.

Invesco Ltd. cut its holdings in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 11.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,108,007 shares of the real estate investment trust's stock after selling 146,232 shares during the period. Invesco Ltd. owned approximately 0.73% of RLJ Lodging Trust worth $8,742,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Palisade Capital Management LP boosted its position in shares of RLJ Lodging Trust by 0.4% during the first quarter. Palisade Capital Management LP now owns 3,071,508 shares of the real estate investment trust's stock valued at $24,234,000 after buying an additional 11,235 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in RLJ Lodging Trust by 58.5% in the fourth quarter. Ameriprise Financial Inc. now owns 2,398,066 shares of the real estate investment trust's stock valued at $24,486,000 after acquiring an additional 885,071 shares during the period. Dimensional Fund Advisors LP lifted its holdings in RLJ Lodging Trust by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,201,819 shares of the real estate investment trust's stock valued at $22,481,000 after acquiring an additional 52,945 shares during the period. Northern Trust Corp lifted its holdings in RLJ Lodging Trust by 25.4% in the fourth quarter. Northern Trust Corp now owns 2,161,489 shares of the real estate investment trust's stock valued at $22,069,000 after acquiring an additional 438,024 shares during the period. Finally, LSV Asset Management lifted its holdings in RLJ Lodging Trust by 23.8% in the first quarter. LSV Asset Management now owns 1,662,214 shares of the real estate investment trust's stock valued at $13,115,000 after acquiring an additional 319,319 shares during the period. 92.35% of the stock is owned by hedge funds and other institutional investors.

RLJ Lodging Trust Stock Performance

Shares of NYSE RLJ traded down $0.00 during trading on Friday, hitting $7.71. The company had a trading volume of 1,750,701 shares, compared to its average volume of 2,438,867. The stock has a 50 day simple moving average of $7.50 and a 200 day simple moving average of $7.71. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.48 and a current ratio of 2.48. RLJ Lodging Trust has a 12 month low of $6.16 and a 12 month high of $10.84. The firm has a market capitalization of $1.16 billion, a P/E ratio of 36.70 and a beta of 1.54.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. RLJ Lodging Trust had a return on equity of 3.03% and a net margin of 4.23%.The firm had revenue of $363.10 million for the quarter, compared to the consensus estimate of $365.30 million. During the same quarter last year, the company earned $0.51 earnings per share. The business's revenue for the quarter 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 anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.15 per share. The ex-dividend date was Monday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 7.8%. RLJ Lodging Trust's dividend payout ratio (DPR) is currently 285.71%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Oppenheimer lowered their target price on RLJ Lodging Trust from $12.00 to $11.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Truist Financial lowered their target price on RLJ Lodging Trust from $10.00 to $7.00 and set a "hold" rating on the stock in a report on Monday, June 9th. Wall Street Zen downgraded RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Wells Fargo & Company increased their target price on RLJ Lodging Trust from $6.00 to $7.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. 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 data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.25.

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.