RLJ Lodging Trust (NYSE:RLJ) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 52.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 10,715 shares of the real estate investment trust’s stock after selling 11,725 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in RLJ Lodging Trust were worth $126,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC acquired a new stake in shares of RLJ Lodging Trust during the third quarter worth about $98,000. New York State Teachers Retirement System acquired a new stake in RLJ Lodging Trust during the 3rd quarter valued at approximately $138,000. Advisor Partners II LLC purchased a new stake in shares of RLJ Lodging Trust in the 3rd quarter valued at $141,000. Caxton Associates LP acquired a new stake in shares of RLJ Lodging Trust in the third quarter worth $214,000. Finally, Principal Financial Group Inc. increased its stake in shares of RLJ Lodging Trust by 36.4% in the third quarter. Principal Financial Group Inc. now owns 23,056 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 6,155 shares during the period. Institutional investors and hedge funds own 92.35% of the company’s stock.

RLJ Lodging Trust Trading Up 0.1 %

RLJ stock opened at $11.11 on Monday. RLJ Lodging Trust has a 52-week low of $9.06 and a 52-week high of $12.39. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 1.12. The firm has a market cap of $1.73 billion, a P/E ratio of 34.72, a PEG ratio of 0.91 and a beta of 1.71. The company’s 50-day simple moving average is $11.71 and its 200-day simple moving average is $11.20.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Monday, February 26th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $319.70 million for the quarter, compared to the consensus estimate of $313.34 million. RLJ Lodging Trust had a return on equity of 3.79% and a net margin of 5.76%. RLJ Lodging Trust’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. As a group, equities analysts forecast that RLJ Lodging Trust will post 1.55 EPS for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Wednesday, March 27th. RLJ Lodging Trust’s payout ratio is presently 125.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Oppenheimer raised their target price on RLJ Lodging Trust from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Wolfe Research began coverage on RLJ Lodging Trust in a research report on Wednesday, January 10th. They set an “outperform” rating and a $15.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, RLJ Lodging Trust presently has an average rating of “Moderate Buy” and a consensus target price of $13.90.

About RLJ Lodging Trust

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.