Renaissance Technologies LLC Has $2.22 Million Position in RLJ Lodging Trust $RLJ

Key Points

• Renaissance Technologies increased its RLJ Lodging Trust stake by 2,111.3% in the first quarter, owning 299,232 shares worth approximately $2.22 million, or 0.20% of the REIT.
• RLJ Lodging Trust shares opened at $11.00, with the stock down 1.2%; institutional investors and hedge funds collectively own 92.35% of the company.
• The company pays a quarterly dividend of $0.15, equivalent to $0.60 annually and a 5.5% yield. Analysts’ consensus rating is “Reduce,” with an average price target of $10.94.

Renaissance Technologies LLC raised its holdings in RLJ Lodging Trust (NYSE:RLJ - Free Report) by 2,111.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,232 shares of the real estate investment trust's stock after buying an additional 285,700 shares during the quarter. Renaissance Technologies LLC owned 0.20% of RLJ Lodging Trust worth $2,220,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in RLJ Lodging Trust by 2,721.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 3,347 shares during the period. PNC Financial Services Group Inc. lifted its stake in RLJ Lodging Trust by 166.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 2,887 shares during the period. Danske Bank A S bought a new position in RLJ Lodging Trust during the third quarter worth about $50,000. Los Angeles Capital Management LLC acquired a new stake in RLJ Lodging Trust during the fourth quarter valued at approximately $51,000. Finally, Focus Partners Wealth acquired a new stake in RLJ Lodging Trust during the third quarter valued at approximately $73,000. Institutional investors and hedge funds own 92.35% of the company's stock.

RLJ Lodging Trust Stock Down 1.2%

NYSE RLJ opened at $11.00 on Tuesday. The stock's 50 day simple moving average is $11.54 and its 200 day simple moving average is $9.35. RLJ Lodging Trust has a one year low of $6.54 and a one year high of $12.89. The firm has a market cap of $1.67 billion, a PE ratio of 7.73 and a beta of 1.09. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89.

RLJ Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.15 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.5%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised RLJ Lodging Trust from a "sell" rating to a "hold" rating in a report on Sunday, June 7th. Bank of America boosted their price target on RLJ Lodging Trust from $9.25 to $10.50 and gave the company an "underperform" rating in a research note on Monday, July 20th. LADENBURG THALM/SH SH upped their price target on RLJ Lodging Trust from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Monday. Barclays increased their price objective on RLJ Lodging Trust from $9.00 to $9.50 and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised RLJ Lodging Trust from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $10.94.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company's portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust's hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.

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