LSV Asset Management Buys 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% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RLJ. Palisade Capital Management LP raised its holdings in RLJ Lodging Trust by 0.4% in the first quarter. Palisade Capital Management LP now owns 3,071,508 shares of the real estate investment trust's stock worth $24,234,000 after buying an additional 11,235 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of RLJ Lodging Trust by 58.5% during 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 in the last quarter. Dimensional Fund Advisors LP increased its position in shares of RLJ Lodging Trust by 2.5% during 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 in the last quarter. Northern Trust Corp raised its holdings in RLJ Lodging Trust by 25.4% in the 4th quarter. Northern Trust Corp now owns 2,161,489 shares of the real estate investment trust's stock worth $22,069,000 after acquiring an additional 438,024 shares during the last quarter. Finally, Invesco Ltd. lifted its position in RLJ Lodging Trust by 46.9% in the 4th quarter. Invesco Ltd. now owns 1,254,239 shares of the real estate investment trust's stock valued at $12,806,000 after acquiring an additional 400,261 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors.

RLJ Lodging Trust Stock Performance

RLJ stock traded down $0.29 during trading on Friday, reaching $7.09. The stock had a trading volume of 1,868,520 shares, compared to its average volume of 2,090,977. The firm has a market cap of $1.07 billion, a PE ratio of 27.25 and a beta of 1.54. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.18. The stock's 50 day moving average is $7.46 and its two-hundred day moving average is $7.99. 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 released its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. The firm had revenue of $363.10 million during the quarter, compared to analyst estimates of $365.30 million. RLJ Lodging Trust had a net margin of 4.84% and a return on equity of 3.43%. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, equities 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 8.5%. The ex-dividend date was Monday, June 30th. RLJ Lodging Trust's dividend payout ratio (DPR) is currently 230.77%.

Wall Street Analyst Weigh In

A number of research firms have commented on RLJ. Wells Fargo & Company lifted their target price on RLJ Lodging Trust from $6.00 to $7.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Truist Financial dropped their price objective on RLJ Lodging Trust from $10.00 to $7.00 and set a "hold" rating on the stock in a research 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, 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 report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $9.25.

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.