Abel Hall LLC Buys New Stake in RLJ Lodging Trust $RLJ

Abel Hall LLC purchased a new position in shares of RLJ Lodging Trust (NYSE:RLJ) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,599 shares of the real estate investment trust’s stock, valued at approximately $450,000.

Other institutional investors also recently made changes to their positions in the company. Donald Smith & CO. Inc. lifted its position in shares of RLJ Lodging Trust by 23.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 13,140,744 shares of the real estate investment trust’s stock valued at $97,899,000 after acquiring an additional 2,463,189 shares in the last quarter. JPMorgan Chase & Co. increased its position in RLJ Lodging Trust by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,204,026 shares of the real estate investment trust’s stock worth $37,469,000 after purchasing an additional 226,335 shares in the last quarter. Geode Capital Management LLC raised its stake in RLJ Lodging Trust by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 3,844,974 shares of the real estate investment trust’s stock valued at $28,650,000 after purchasing an additional 114,163 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in RLJ Lodging Trust by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,709,660 shares of the real estate investment trust’s stock valued at $27,637,000 after purchasing an additional 74,252 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in RLJ Lodging Trust by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 3,127,412 shares of the real estate investment trust’s stock valued at $23,299,000 after purchasing an additional 94,291 shares in the last quarter. 92.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings raised shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Raymond James Financial lowered shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from $9.00 to $11.00 in a research report on Thursday, May 28th. Wells Fargo & Company upped their price objective on shares of RLJ Lodging Trust from $7.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, June 1st. Wall Street Zen upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, Truist Financial lifted their target price on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.56.

RLJ Lodging Trust Price Performance

RLJ Lodging Trust stock opened at $11.62 on Tuesday. RLJ Lodging Trust has a 52-week low of $6.54 and a 52-week high of $12.03. The firm has a fifty day moving average of $10.12 and a 200-day moving average of $8.60. The firm has a market capitalization of $1.77 billion, a P/E ratio of -1,162.00 and a beta of 1.09. 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 (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, beating 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 quarter in the previous year, the business posted $0.31 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts predict that RLJ Lodging Trust will post 1.26 EPS for the current year.

RLJ Lodging Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Tuesday, June 30th. RLJ Lodging Trust’s payout ratio is currently -6,000.00%.

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.