LSV Asset Management Purchases 319,319 Shares of RLJ Lodging Trust (NYSE:RLJ)

Key Points

• LSV Asset Management increased its stake in RLJ Lodging Trust by 23.8%, now owning approximately 1.10% of the company's shares, valued at $13.1 million.
• Recent research reports show mixed opinions on RLJ Lodging Trust, with target prices adjusted down by analysts like Truist Financial, while Wells Fargo raised its price objective, indicating a generally "Hold" consensus.
• RLJ Lodging Trust declared a quarterly dividend of $0.15 per share, resulting in an annualized yield of 8.1%, though its dividend payout ratio is notably high at 230.77%.

LSV Asset Management lifted its position in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 23.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,662,214 shares of the real estate investment trust's stock after purchasing an additional 319,319 shares during the quarter. LSV Asset Management owned about 1.10% of RLJ Lodging Trust worth $13,115,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Woodline Partners LP acquired a new position in shares of RLJ Lodging Trust in the 4th quarter valued at approximately $9,714,000. Ameriprise Financial Inc. grew its stake in RLJ Lodging Trust by 58.5% during the 4th quarter. Ameriprise Financial Inc. now owns 2,398,066 shares of the real estate investment trust's stock worth $24,486,000 after buying an additional 885,071 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of RLJ Lodging Trust in the fourth quarter worth $9,036,000. Man Group plc grew its stake in shares of RLJ Lodging Trust by 300.6% in the fourth quarter. Man Group plc now owns 712,904 shares of the real estate investment trust's stock worth $7,279,000 after purchasing an additional 534,938 shares in the last quarter. Finally, Norges Bank bought a new position in shares of RLJ Lodging Trust in the fourth quarter worth $5,426,000. Hedge funds and other institutional investors own 92.35% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RLJ. Oppenheimer decreased their target price on RLJ Lodging Trust from $12.00 to $11.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Wall Street Zen downgraded RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Wells Fargo & Company upped 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. Finally, Truist Financial reduced their price objective on RLJ Lodging Trust from $10.00 to $7.00 and set a "hold" rating for the company in a research note on Monday, June 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, RLJ Lodging Trust currently has an average rating of "Hold" and a consensus target price of $9.25.

RLJ Lodging Trust Stock Performance

Shares of NYSE:RLJ traded down $0.01 during trading on Thursday, hitting $7.32. 1,508,389 shares of the stock were exchanged, compared to its average volume of 2,092,183. RLJ Lodging Trust has a 1-year low of $6.16 and a 1-year high of $10.84. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 28.15 and a beta of 1.54. The company's fifty day simple moving average is $7.46 and its 200-day simple moving average is $8.01. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.57 and a current ratio of 2.57.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $328.12 million for the quarter, compared to analyst estimates of $328.08 million. RLJ Lodging Trust had a return on equity of 3.43% and a net margin of 4.84%. RLJ Lodging Trust's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. Sell-side analysts expect that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

RLJ Lodging Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.15 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.60 annualized dividend and a yield of 8.2%. RLJ Lodging Trust's payout ratio is presently 230.77%.

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.