RLJ Lodging Trust $RLJ Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in RLJ Lodging Trust by 4.3%, now holding approximately 2.07 million shares valued at $16.33 million.
• RLJ Lodging Trust announced a quarterly dividend of $0.15 per share, representing an annual yield of 7.9% and a payout ratio of 285.71%.
• The stock received mixed analyst ratings, with a consensus rating of "Hold" and an average target price of $9.25 amid recent price adjustments.

Northern Trust Corp trimmed its stake in RLJ Lodging Trust (NYSE:RLJ - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,069,063 shares of the real estate investment trust's stock after selling 92,426 shares during the period. Northern Trust Corp owned approximately 1.36% of RLJ Lodging Trust worth $16,325,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. KBC Group NV bought a new stake in shares of RLJ Lodging Trust during the 1st quarter worth approximately $27,000. GF Fund Management CO. LTD. purchased a new position in RLJ Lodging Trust during the 4th quarter valued at $29,000. Versant Capital Management Inc boosted its holdings in RLJ Lodging Trust by 402.7% during the 1st quarter. Versant Capital Management Inc now owns 3,675 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 2,944 shares during the period. Blueshift Asset Management LLC purchased a new position in RLJ Lodging Trust during the 1st quarter valued at $82,000. Finally, Teacher Retirement System of Texas purchased a new position in RLJ Lodging Trust during the 1st quarter valued at $177,000. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Stock Up 0.7%

Shares of NYSE RLJ traded up $0.06 during mid-day trading on Friday, reaching $7.86. 2,894,251 shares of the company were exchanged, compared to its average volume of 2,362,395. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.19. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 37.40 and a beta of 1.50. RLJ Lodging Trust has a 1 year low of $6.16 and a 1 year high of $10.84. The firm has a 50-day moving average of $7.53 and a 200 day moving average of $7.64.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $363.10 million during the quarter, compared to analysts' expectations of $365.30 million. RLJ Lodging Trust had a return on equity of 3.03% and a net margin of 4.23%.The firm's quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. RLJ Lodging Trust has set its FY 2025 guidance at 1.380-1.580 EPS. On average, research analysts expect that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Monday, June 30th. RLJ Lodging Trust's dividend payout ratio is 285.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wall Street Zen cut RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Truist Financial upped their target price on RLJ Lodging Trust from $7.00 to $8.00 and gave the stock a "hold" rating in a report on Friday. Finally, Wells Fargo & Company upped 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. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently 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.