Traders Sell Shares of RLJ Lodging Trust (RLJ) on Strength (RLJ)
Traders sold shares of RLJ Lodging Trust (NYSE:RLJ) on strength during trading hours on Tuesday. $3.20 million flowed into the stock on the tick-up and $20.58 million flowed out of the stock on the tick-down, for a money net flow of $17.38 million out of the stock. Of all stocks tracked, RLJ Lodging Trust had the 0th highest net out-flow for the day. RLJ Lodging Trust traded up $0.02 for the day and closed at $21.43
A number of brokerages have commented on RLJ. Zacks Investment Research raised RLJ Lodging Trust from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, July 13th. Barclays PLC reduced their price objective on RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Friday, August 5th. Canaccord Genuity cut RLJ Lodging Trust from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research note on Friday, July 15th. Finally, Robert W. Baird cut RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $25.00 to $24.00 in a research note on Monday, August 8th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $25.60.
The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 13.61 and a beta of 1.05. The company has a 50 day moving average price of $22.88 and a 200 day moving average price of $22.08.
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RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.36. RLJ Lodging Trust had a return on equity of 9.11% and a net margin of 17.13%. The firm had revenue of $317.11 million for the quarter, compared to the consensus estimate of $318.47 million. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts anticipate that RLJ Lodging Trust will post $1.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.16%. RLJ Lodging Trust’s dividend payout ratio (DPR) is 84.08%.
In other RLJ Lodging Trust news, CFO Leslie D. Hale sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $23.62, for a total transaction of $236,200.00. Following the transaction, the chief financial officer now owns 283,636 shares in the company, valued at approximately $6,699,482.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of RLJ. Macquarie Group Ltd. increased its stake in RLJ Lodging Trust by 6.6% in the second quarter. Macquarie Group Ltd. now owns 41,750 shares of the real estate investment trust’s stock valued at $896,000 after buying an additional 2,600 shares during the last quarter. Royal Bank of Canada increased its stake in RLJ Lodging Trust by 19.0% in the second quarter. Royal Bank of Canada now owns 16,633 shares of the real estate investment trust’s stock valued at $357,000 after buying an additional 2,658 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in RLJ Lodging Trust by 11.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,178,963 shares of the real estate investment trust’s stock valued at $25,289,000 after buying an additional 117,053 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in RLJ Lodging Trust during the second quarter valued at $109,000. Finally, Legal & General Group Plc increased its stake in RLJ Lodging Trust by 11.6% in the second quarter. Legal & General Group Plc now owns 331,404 shares of the real estate investment trust’s stock valued at $7,102,000 after buying an additional 34,485 shares during the last quarter.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. The Company owns approximately 130 hotels with over 20,900 rooms, located in approximately 20 states and the District of Columbia, and an interest in a mortgage loan secured by a hotel.
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