Amalgamated Bank Reduces Holdings in RLJ Lodging Trust (NYSE:RLJ)

Amalgamated Bank lessened its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 10.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,006 shares of the real estate investment trust’s stock after selling 1,634 shares during the quarter. Amalgamated Bank’s holdings in RLJ Lodging Trust were worth $164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Beverly Hills Private Wealth LLC purchased a new position in shares of RLJ Lodging Trust during the 3rd quarter valued at $98,000. Stevens Capital Management LP purchased a new stake in RLJ Lodging Trust during the 4th quarter worth about $128,000. Los Angeles Capital Management LLC purchased a new stake in RLJ Lodging Trust during the 4th quarter worth about $168,000. Mackenzie Financial Corp lifted its holdings in RLJ Lodging Trust by 8.7% during the 4th quarter. Mackenzie Financial Corp now owns 18,966 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in RLJ Lodging Trust by 21.7% during the 4th quarter. Victory Capital Management Inc. now owns 20,435 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 3,648 shares in the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Price Performance

Shares of NYSE RLJ opened at $10.07 on Friday. The firm has a market capitalization of $1.57 billion, a P/E ratio of 35.96, a P/E/G ratio of 0.83 and a beta of 1.70. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 1.13. The stock’s 50-day simple moving average is $11.17 and its two-hundred day simple moving average is $11.31. RLJ Lodging Trust has a twelve month low of $9.06 and a twelve month high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last announced its earnings results on Monday, February 26th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $319.70 million for the quarter, compared to analyst estimates of $313.34 million. RLJ Lodging Trust had a return on equity of 3.53% and a net margin of 5.29%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. As a group, equities analysts anticipate that RLJ Lodging Trust will post 1.55 EPS for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.40 annualized dividend and a dividend yield of 3.97%. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently 142.86%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RLJ shares. Oppenheimer increased their price objective on RLJ Lodging Trust from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. StockNews.com cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.90.

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.