Insider Selling: RLJ Lodging Trust (RLJ) Director Sells 10,000 Shares of Stock
RLJ Lodging Trust (NYSE:RLJ) Director Nathaniel A. Davis sold 10,000 shares of RLJ Lodging Trust stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $20.11, for a total transaction of $201,100.00. Following the completion of the sale, the director now directly owns 72,928 shares in the company, valued at approximately $1,466,582.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
RLJ Lodging Trust (RLJ) traded down 0.78% on Thursday, reaching $20.39. 2,020,034 shares of the company were exchanged. The firm has a 50-day moving average of $20.31 and a 200 day moving average of $21.31. RLJ Lodging Trust has a 12-month low of $18.92 and a 12-month high of $25.10. The firm has a market capitalization of $2.52 billion, a P/E ratio of 14.06 and a beta of 1.17.
RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The company had revenue of $292.28 million during the quarter, compared to analysts’ expectations of $293.16 million. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.16%. RLJ Lodging Trust’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period last year, the company posted $0.82 earnings per share. On average, equities analysts predict that RLJ Lodging Trust will post $0.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 30th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, August 28th. This represents a $0.88 annualized dividend and a yield of 4.32%. RLJ Lodging Trust’s payout ratio is 60.69%.
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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its stake in shares of RLJ Lodging Trust by 9.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 160,595 shares of the real estate investment trust’s stock worth $3,191,000 after buying an additional 13,338 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of RLJ Lodging Trust in the 2nd quarter worth $840,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of RLJ Lodging Trust in the 2nd quarter worth $1,139,000. Cubist Systematic Strategies LLC purchased a new position in shares of RLJ Lodging Trust in the 2nd quarter worth $820,000. Finally, State Street Corp grew its stake in shares of RLJ Lodging Trust by 2.4% in the 2nd quarter. State Street Corp now owns 4,831,260 shares of the real estate investment trust’s stock worth $96,267,000 after buying an additional 111,681 shares in the last quarter.
A number of equities research analysts recently commented on RLJ shares. Boenning Scattergood reaffirmed a “sell” rating and issued a $19.50 price target on shares of RLJ Lodging Trust in a report on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $25.00 price target on shares of RLJ Lodging Trust in a report on Friday, August 4th. BidaskClub cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $28.00 price target (up previously from $26.00) on shares of RLJ Lodging Trust in a report on Monday, June 5th. Finally, ValuEngine cut shares of RLJ Lodging Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $24.22.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.
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