Martingale Asset Management L P Raises Stock Position in RLJ Lodging Trust $RLJ

Key Points

• Martingale Asset Management L P increased its stake in RLJ Lodging Trust by 2,220.0% in Q1, acquiring 291,819 shares for a total of 304,964 shares valued at approximately $2.41 million.
• Institutional ownership of RLJ Lodging Trust now stands at 92.35%, with other investors like Envestnet Asset Management and Barclays PLC also increasing their shares significantly in the 4th quarter.
• RLJ Lodging Trust reported a quarterly earnings per share (EPS) of $0.48, slightly beating expectations, but its revenue declined 1.7% year-over-year.

Martingale Asset Management L P raised its position in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 2,220.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,964 shares of the real estate investment trust's stock after buying an additional 291,819 shares during the quarter. Martingale Asset Management L P owned about 0.20% of RLJ Lodging Trust worth $2,406,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Woodline Partners LP bought a new position in shares of RLJ Lodging Trust during the 4th quarter valued at approximately $9,714,000. Ameriprise Financial Inc. lifted its position in 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 purchasing an additional 885,071 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of RLJ Lodging Trust in the 4th quarter worth $9,036,000. Man Group plc grew its stake in shares of RLJ Lodging Trust by 300.6% in the 4th quarter. Man Group plc now owns 712,904 shares of the real estate investment trust's stock worth $7,279,000 after buying an additional 534,938 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of RLJ Lodging Trust by 2,455.6% in the 1st quarter. Victory Capital Management Inc. now owns 469,769 shares of the real estate investment trust's stock worth $3,706,000 after buying an additional 451,387 shares during the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.

RLJ Lodging Trust Stock Down 2.0%

Shares of RLJ stock traded down $0.16 during trading hours on Thursday, reaching $7.66. 801,354 shares of the company's stock were exchanged, compared to its average volume of 2,132,678. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.19. RLJ Lodging Trust has a 1 year low of $6.16 and a 1 year high of $10.84. The stock has a market cap of $1.16 billion, a PE ratio of 36.50 and a beta of 1.54. The stock's fifty day moving average price is $7.48 and its two-hundred day moving average price is $7.75.

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. The business had revenue of $363.10 million during the quarter, compared to the consensus estimate of $365.30 million. RLJ Lodging Trust had a net margin of 4.23% and a return on equity of 3.03%. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. RLJ Lodging Trust has set its FY 2025 guidance at 1.380-1.580 EPS. Research analysts predict that RLJ Lodging Trust will post 1.37 EPS for the current year.

RLJ Lodging Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued 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 currently 285.71%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Oppenheimer lowered their price target on shares of RLJ Lodging Trust from $12.00 to $11.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Wells Fargo & Company raised their price objective on RLJ Lodging Trust from $6.00 to $7.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Truist Financial cut their target price 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. Finally, Wall Street Zen lowered RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.