RLJ Lodging Trust (NYSE:RLJ) Shares Purchased by Man Group plc

Man Group plc increased its holdings in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 300.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 712,904 shares of the real estate investment trust's stock after purchasing an additional 534,938 shares during the period. Man Group plc owned 0.47% of RLJ Lodging Trust worth $7,279,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Barclays PLC raised its position in RLJ Lodging Trust by 97.4% during the 3rd quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust's stock worth $2,495,000 after buying an additional 134,093 shares during the last quarter. Vert Asset Management LLC raised its position in RLJ Lodging Trust by 26.5% during the 4th quarter. Vert Asset Management LLC now owns 60,726 shares of the real estate investment trust's stock worth $620,000 after buying an additional 12,714 shares during the last quarter. abrdn plc raised its position in RLJ Lodging Trust by 30.6% during the 4th quarter. abrdn plc now owns 40,417 shares of the real estate investment trust's stock worth $416,000 after buying an additional 9,474 shares during the last quarter. Choreo LLC raised its position in RLJ Lodging Trust by 26.8% during the 4th quarter. Choreo LLC now owns 45,054 shares of the real estate investment trust's stock worth $464,000 after buying an additional 9,523 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in RLJ Lodging Trust by 44.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,775 shares of the real estate investment trust's stock worth $355,000 after buying an additional 10,643 shares during the last quarter. Institutional investors and hedge funds own 92.35% of the company's stock.

Insiders Place Their Bets

In other news, Director Patricia L. Gibson purchased 10,000 shares of the firm's stock in a transaction on Friday, March 28th. The shares were bought at an average cost of $8.03 per share, with a total value of $80,300.00. Following the purchase, the director now directly owns 124,217 shares of the company's stock, valued at approximately $997,462.51. This trade represents a 8.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RLJ has been the subject of a number of analyst reports. KeyCorp cut their price objective on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Truist Financial cut shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and lowered their price target for the stock from $11.00 to $10.00 in a research note on Friday, March 21st. Wells Fargo & Company lowered their price target on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a research note on Tuesday, February 18th. Oppenheimer lowered their price target on shares of RLJ Lodging Trust from $12.00 to $11.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Finally, StockNews.com raised shares of RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.68.

RLJ Lodging Trust Price Performance

Shares of NYSE RLJ opened at $7.50 on Tuesday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.87 and a beta of 1.50. RLJ Lodging Trust has a 52 week low of $6.16 and a 52 week high of $10.84. The company's 50-day moving average price is $7.48 and its 200 day moving average price is $9.01. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. The firm had revenue of $328.12 million for the quarter, compared to analysts' expectations of $328.08 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 EPS. As a group, research analysts forecast that RLJ Lodging Trust will post 1.37 earnings per share for the current fiscal year.

RLJ Lodging Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 8.00%. RLJ Lodging Trust's payout ratio is 230.77%.

RLJ Lodging Trust Company 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.

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