Point72 Asset Management L.P. purchased a new position in RLJ Lodging Trust (NYSE:RLJ - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 97,406 shares of the real estate investment trust's stock, valued at approximately $995,000. Point72 Asset Management L.P. owned about 0.06% of RLJ Lodging Trust at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of RLJ Lodging Trust by 0.5% during the fourth quarter. Rhumbline Advisers now owns 282,846 shares of the real estate investment trust's stock valued at $2,888,000 after buying an additional 1,320 shares during the last quarter. US Bancorp DE raised its position in RLJ Lodging Trust by 78.2% during the 4th quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust's stock worth $33,000 after buying an additional 1,417 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of RLJ Lodging Trust by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 17,594 shares of the real estate investment trust's stock worth $180,000 after purchasing an additional 1,796 shares during the period. EntryPoint Capital LLC grew its stake in RLJ Lodging Trust by 23.8% in the 4th quarter. EntryPoint Capital LLC now owns 13,659 shares of the real estate investment trust's stock valued at $139,000 after acquiring an additional 2,624 shares during the period. Finally, Clearbridge Investments LLC grew its stake in RLJ Lodging Trust by 0.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,315,588 shares of the real estate investment trust's stock valued at $13,432,000 after acquiring an additional 4,258 shares during the period. 92.35% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at RLJ Lodging Trust
In other RLJ Lodging Trust news, Director Patricia L. Gibson purchased 10,000 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was bought at an average price of $8.03 per share, with a total value of $80,300.00. Following the completion of the purchase, the director now owns 124,217 shares in the company, valued at $997,462.51. This trade represents a 8.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.60% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on RLJ shares. Wall Street Zen cut shares of RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Truist Financial cut shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and cut their price objective for the stock from $11.00 to $10.00 in a report on Friday, March 21st. KeyCorp cut their target price on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Oppenheimer lowered their price objective on shares of 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. Finally, Wells Fargo & Company decreased their target price on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, RLJ Lodging Trust has a consensus rating of "Hold" and a consensus target price of $10.68.
Check Out Our Latest Report on RLJ Lodging Trust
RLJ Lodging Trust Stock Up 2.7%
NYSE RLJ traded up $0.20 on Tuesday, reaching $7.32. The company had a trading volume of 233,523 shares, compared to its average volume of 1,880,063. The firm has a 50-day moving average of $7.33 and a 200-day moving average of $8.94. RLJ Lodging Trust has a 1 year low of $6.16 and a 1 year high of $10.84. The firm has a market capitalization of $1.11 billion, a PE ratio of 25.22, a P/E/G ratio of 2.87 and a beta of 1.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74.
RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last announced its earnings results on Monday, May 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The company had revenue of $328.12 million for the quarter, compared to analyst estimates of $328.08 million. During the same period in the prior year, the company posted $0.33 EPS. RLJ Lodging Trust's quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.
RLJ Lodging Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.20%. The ex-dividend date of this dividend was Monday, March 31st. RLJ Lodging Trust's payout ratio is 230.77%.
About RLJ Lodging Trust
(
Free Report)
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.
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