89,040 Shares in RLJ Lodging Trust $RLJ Bought by Diamant Asset Management Inc.

Diamant Asset Management Inc. bought a new position in shares of RLJ Lodging Trust (NYSE:RLJ) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 89,040 shares of the real estate investment trust’s stock, valued at approximately $661,000. Diamant Asset Management Inc. owned 0.06% of RLJ Lodging Trust at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in shares of RLJ Lodging Trust by 2,721.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 3,347 shares during the period. Daytona Street Capital LLC acquired a new stake in RLJ Lodging Trust during the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. raised its holdings in RLJ Lodging Trust by 166.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 2,887 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in RLJ Lodging Trust during the 3rd quarter worth approximately $36,000. Finally, Danske Bank A S bought a new position in RLJ Lodging Trust during the 3rd quarter worth approximately $50,000. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Stock Performance

NYSE:RLJ opened at $11.83 on Friday. The company has a fifty day moving average of $9.67 and a 200-day moving average of $8.42. The firm has a market capitalization of $1.80 billion, a P/E ratio of -1,183.20 and a beta of 1.13. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.22. RLJ Lodging Trust has a twelve month low of $6.54 and a twelve month high of $12.03.

RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The business had revenue of $339.98 million for the quarter, compared to analyst estimates of $323.51 million. During the same period in the prior year, the firm earned $0.31 earnings per share. RLJ Lodging Trust’s revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that RLJ Lodging Trust will post 1.26 EPS for the current year.

RLJ Lodging Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. RLJ Lodging Trust’s payout ratio is presently -6,000.00%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RLJ. Barclays upped their price objective on shares of RLJ Lodging Trust from $6.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, June 1st. Wells Fargo & Company upped their price target on shares of RLJ Lodging Trust from $7.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, June 1st. UBS Group set a $13.00 price target on RLJ Lodging Trust in a report on Thursday, June 18th. Weiss Ratings raised RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Finally, LADENBURG THALM/SH SH boosted their price objective on RLJ Lodging Trust from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.56.

RLJ Lodging Trust Company 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.