Fisher Asset Management LLC Has $23.30 Million Stock Position in RLJ Lodging Trust $RLJ

Fisher Asset Management LLC boosted its stake in RLJ Lodging Trust (NYSE:RLJ) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,127,412 shares of the real estate investment trust’s stock after purchasing an additional 94,291 shares during the quarter. Fisher Asset Management LLC owned about 2.07% of RLJ Lodging Trust worth $23,299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RLJ. EverSource Wealth Advisors LLC grew its stake in RLJ Lodging Trust by 2,721.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 3,347 shares in the last quarter. Daytona Street Capital LLC acquired a new position in shares of RLJ Lodging Trust in the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. raised its position in shares of RLJ Lodging Trust by 166.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 2,887 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of RLJ Lodging Trust during the 3rd quarter worth approximately $36,000. Finally, Danske Bank A S bought a new stake in shares of RLJ Lodging Trust during the 3rd quarter worth approximately $50,000. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Price Performance

RLJ stock opened at $9.85 on Wednesday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -985.00 and a beta of 1.08. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89. The company has a 50 day simple moving average of $8.21 and a 200 day simple moving average of $7.87. RLJ Lodging Trust has a 1 year low of $6.54 and a 1 year high of $9.88.

RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $339.98 million for the quarter, compared to analysts’ expectations of $323.51 million. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Research analysts anticipate that RLJ Lodging Trust will post 1.22 EPS for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 6.1%. RLJ Lodging Trust’s payout ratio is currently -6,000.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RLJ shares. Truist Financial decreased their price objective on shares of RLJ Lodging Trust from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. LADENBURG THALM/SH SH assumed coverage on RLJ Lodging Trust in a report on Thursday, March 26th. They issued a “neutral” rating and a $8.50 target price on the stock. Weiss Ratings upgraded RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, RLJ Lodging Trust currently has an average rating of “Hold” and a consensus target price of $7.50.

RLJ Lodging Trust Profile

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.