Northern Trust Corp Boosts Position in RLJ Lodging Trust (NYSE:RLJ)

Northern Trust Corp raised its position in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 25.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,161,489 shares of the real estate investment trust's stock after buying an additional 438,024 shares during the quarter. Northern Trust Corp owned about 1.41% of RLJ Lodging Trust worth $22,069,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC lifted 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 valued at $2,495,000 after acquiring an additional 134,093 shares during the period. Vert Asset Management LLC increased 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 valued at $620,000 after buying an additional 12,714 shares in the last quarter. abrdn plc raised its stake in RLJ Lodging Trust by 30.6% during the fourth quarter. abrdn plc now owns 40,417 shares of the real estate investment trust's stock valued at $416,000 after buying an additional 9,474 shares during the last quarter. Choreo LLC boosted its holdings in RLJ Lodging Trust by 26.8% in the fourth quarter. Choreo LLC now owns 45,054 shares of the real estate investment trust's stock worth $464,000 after acquiring an additional 9,523 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in RLJ Lodging Trust by 44.1% in the fourth 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 acquiring an additional 10,643 shares in the last quarter. Institutional investors own 92.35% of the company's stock.

Insiders Place Their Bets

In other RLJ Lodging Trust news, Director Patricia L. Gibson acquired 10,000 shares of the stock in a transaction on Friday, March 28th. The stock was acquired at an average price of $8.03 per share, for a total transaction of $80,300.00. Following the completion of the transaction, the director now directly owns 124,217 shares of the company's stock, valued at $997,462.51. This trade represents a 8.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company's stock.

RLJ Lodging Trust Price Performance

Shares of RLJ stock traded up $0.10 on Friday, hitting $7.59. 1,641,063 shares of the stock traded hands, compared to its average volume of 1,860,657. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a 50 day simple moving average of $7.54 and a two-hundred day simple moving average of $9.03. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 26.17, 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.

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

RLJ Lodging Trust Dividend Announcement

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. This represents a $0.60 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date was Monday, March 31st. RLJ Lodging Trust's payout ratio is 230.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RLJ shares. StockNews.com upgraded RLJ Lodging Trust from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Wells Fargo & Company reduced their price objective on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating for the company in a research note on Tuesday, February 18th. Oppenheimer decreased 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. Truist Financial cut shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and cut their price target for the company from $11.00 to $10.00 in a report on Friday, March 21st. Finally, KeyCorp reduced their price target 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $10.68.

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.