Vestcor Inc Sells 130,173 Shares of RLJ Lodging Trust (NYSE:RLJ)

Key Points

• Vestcor Inc drastically reduced its holdings in RLJ Lodging Trust by 92.2%, selling 130,173 shares to own only 11,088 shares valued at $87,000.
• Several institutional investors increased their stakes in RLJ, with Man Group plc leading with a 300.6% increase during the fourth quarter.
• Analysts have mixed ratings on RLJ Lodging Trust, resulting in a consensus rating of "Hold" with a price target of $9.25, as various brokerages reconsider their ratings and price objectives.

Vestcor Inc decreased its position in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 92.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,088 shares of the real estate investment trust's stock after selling 130,173 shares during the quarter. Vestcor Inc's holdings in RLJ Lodging Trust were worth $87,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of RLJ. GF Fund Management CO. LTD. bought a new position in shares of RLJ Lodging Trust during the fourth quarter worth $29,000. KBC Group NV acquired a new position in RLJ Lodging Trust in the 1st quarter valued at approximately $27,000. Versant Capital Management Inc lifted its stake in shares of RLJ Lodging Trust by 402.7% in 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 purchasing an additional 2,944 shares during the period. CreativeOne Wealth LLC acquired a new position in shares of RLJ Lodging Trust during the fourth quarter worth approximately $111,000. Finally, Brevan Howard Capital Management LP purchased a new position in RLJ Lodging Trust during the 4th quarter worth $202,000. Institutional investors own 92.35% of the company's stock.

RLJ Lodging Trust Stock Performance

RLJ traded down $0.01 during trading hours on Thursday, hitting $7.32. 1,508,389 shares of the stock were exchanged, compared to its average volume of 2,092,183. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 28.15 and a beta of 1.54. The stock has a 50-day simple moving average of $7.46 and a 200-day simple moving average of $7.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.57 and a quick ratio of 2.57. 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 announced its earnings results on Thursday, August 7th. The real estate investment trust reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. RLJ Lodging Trust had a return on equity of 3.43% and a net margin of 4.84%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. Analysts anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 8.2%. The ex-dividend date was Monday, June 30th. RLJ Lodging Trust's dividend payout ratio is 230.77%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RLJ. 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. Wells Fargo & Company raised 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. Oppenheimer cut their target price on shares of RLJ Lodging Trust from $12.00 to $11.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, Wall Street Zen downgraded RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $9.25.

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.