Resona Asset Management Co. Ltd. Buys New Shares in RLJ Lodging Trust (NYSE:RLJ)

Resona Asset Management Co. Ltd. bought a new position in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 59,956 shares of the real estate investment trust's stock, valued at approximately $609,000.

Other hedge funds also recently modified their holdings of the company. Barclays PLC lifted its holdings 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 purchasing an additional 134,093 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of RLJ Lodging Trust by 7.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,331,818 shares of the real estate investment trust's stock worth $34,018,000 after purchasing an additional 232,393 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of RLJ Lodging Trust in the fourth quarter valued at approximately $277,000. JPMorgan Chase & Co. grew its position in RLJ Lodging Trust by 4.9% during the third quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust's stock worth $47,429,000 after buying an additional 240,254 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in RLJ Lodging Trust during the 4th quarter worth $355,000. Institutional investors and hedge funds own 92.35% of the company's stock.

RLJ Lodging Trust Trading Up 0.5 %

Shares of RLJ Lodging Trust stock traded up $0.04 during midday trading on Wednesday, reaching $6.93. The company had a trading volume of 738,935 shares, compared to its average volume of 2,322,021. The stock has a fifty day moving average price of $8.56 and a 200 day moving average price of $9.34. RLJ Lodging Trust has a fifty-two week low of $6.16 and a fifty-two week high of $11.48. The firm has a market cap of $1.05 billion, a PE ratio of 23.88, a P/E/G ratio of 2.87 and a beta of 1.51. 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 issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.36. The firm had revenue of $329.99 million for the quarter, compared to analyst estimates of $324.66 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. On average, equities analysts anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 annualized dividend and a yield of 8.66%. RLJ Lodging Trust's dividend payout ratio (DPR) is 222.22%.

Insider Activity at RLJ Lodging Trust

In other RLJ Lodging Trust news, Director Patricia L. Gibson bought 10,000 shares of the stock in a transaction dated Friday, March 28th. The shares were bought at an average cost of $8.03 per share, for a total transaction 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on RLJ. KeyCorp reduced their target price on RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Truist Financial cut shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and dropped their target price for the company from $11.00 to $10.00 in a research report on Friday, March 21st. Wells Fargo & Company decreased their price objective 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. Finally, StockNews.com lowered RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, RLJ Lodging Trust has an average rating of "Hold" and a consensus price target of $10.82.

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.