Teachers Insurance & Annuity Association of America increased its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 9.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 185,465 shares of the real estate investment trust’s stock after purchasing an additional 16,284 shares during the quarter. Teachers Insurance & Annuity Association of America owned approximately 0.11% of RLJ Lodging Trust worth $4,075,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Allianz Asset Management GmbH grew its holdings in RLJ Lodging Trust by 111.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 628,717 shares of the real estate investment trust’s stock valued at $13,833,000 after buying an additional 330,962 shares in the last quarter. American International Group Inc. grew its holdings in RLJ Lodging Trust by 49.1% in the 3rd quarter. American International Group Inc. now owns 113,796 shares of the real estate investment trust’s stock valued at $2,504,000 after buying an additional 37,459 shares in the last quarter. Cedar Capital LLC purchased a new stake in RLJ Lodging Trust in the 3rd quarter valued at $2,794,000. Sei Investments Co. grew its holdings in RLJ Lodging Trust by 14.9% in the 4th quarter. Sei Investments Co. now owns 656,452 shares of the real estate investment trust’s stock valued at $14,423,000 after buying an additional 85,114 shares in the last quarter. Finally, Land & Buildings Investment Management LLC purchased a new stake in RLJ Lodging Trust in the 3rd quarter valued at $77,072,000.
Several brokerages have issued reports on RLJ. Barclays dropped their target price on RLJ Lodging Trust from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, March 7th. Zacks Investment Research upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. SunTrust Banks restated a “hold” rating on shares of RLJ Lodging Trust in a report on Friday, March 2nd. Robert W. Baird set a $22.00 target price on RLJ Lodging Trust and gave the company a “hold” rating in a report on Thursday, March 1st. Finally, Boenning Scattergood set a $20.00 target price on RLJ Lodging Trust and gave the company a “sell” rating in a report on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $23.27.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.08. RLJ Lodging Trust had a return on equity of 2.77% and a net margin of 5.52%. The business had revenue of $462.49 million for the quarter, compared to analyst estimates of $442.14 million. sell-side analysts expect that RLJ Lodging Trust will post 2.38 earnings per share for the current year.
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About RLJ Lodging Trust
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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