43,231 Shares in RLJ Lodging Trust (NYSE:RLJ) Purchased by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management has acquired a new stake in RLJ Lodging Trust, buying 43,231 shares valued at approximately $341,000, as reported in their latest SEC filing.
• RLJ Lodging Trust recently reported quarterly earnings of $0.31 per share, exceeding analysts' expectations of $0.30, with revenues rising 1.1% year-over-year.
• The company declared a quarterly dividend of $0.15 per share, resulting in an annualized yield of 8.06%, although the dividend payout ratio is notably high at 230.77%.

Picton Mahoney Asset Management purchased a new position in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 43,231 shares of the real estate investment trust's stock, valued at approximately $341,000.

Several other hedge funds also recently made changes to their positions in the business. KBC Group NV acquired a new stake in RLJ Lodging Trust during the 1st quarter valued at $27,000. GF Fund Management CO. LTD. acquired a new stake in RLJ Lodging Trust during the 4th quarter valued at $29,000. Versant Capital Management Inc increased its position 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 worth $29,000 after buying an additional 2,944 shares during the period. CreativeOne Wealth LLC bought a new position in RLJ Lodging Trust during the 4th quarter worth $111,000. Finally, Teacher Retirement System of Texas bought a new position in RLJ Lodging Trust during the 1st quarter worth $177,000. 92.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on RLJ. Wall Street Zen cut RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wells Fargo & Company increased their price objective on RLJ Lodging Trust from $6.00 to $7.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Truist Financial lowered 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. Finally, Oppenheimer decreased their price target on RLJ Lodging Trust from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $9.40.

RLJ Lodging Trust Trading Down 2.4%

Shares of NYSE:RLJ traded down $0.18 during midday trading on Friday, hitting $7.22. 2,390,618 shares of the stock were exchanged, compared to its average volume of 1,291,453. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 27.77 and a beta of 1.54. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.57 and a current ratio of 2.57. The business's 50-day moving average price is $7.45 and its 200 day moving average price is $8.05. RLJ Lodging Trust has a 12 month low of $6.16 and a 12 month high of $10.84.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm 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%. The company's revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 earnings per share. Analysts predict that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 8.3%. RLJ Lodging Trust's dividend payout ratio (DPR) is currently 230.77%.

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.