Centersquare Investment Management LLC Buys Shares of 1,779,010 RLJ Lodging Trust $RLJ

Centersquare Investment Management LLC bought a new stake in RLJ Lodging Trust (NYSE:RLJ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,779,010 shares of the real estate investment trust’s stock, valued at approximately $13,254,000. Centersquare Investment Management LLC owned about 1.18% of RLJ Lodging Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of RLJ. Picton Mahoney Asset Management acquired a new position in shares of RLJ Lodging Trust in the 4th quarter worth approximately $831,000. Donald Smith & CO. Inc. lifted its holdings in shares of RLJ Lodging Trust by 23.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 13,140,744 shares of the real estate investment trust’s stock worth $97,899,000 after acquiring an additional 2,463,189 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of RLJ Lodging Trust by 1.4% in the 4th quarter. Deutsche Bank AG now owns 181,568 shares of the real estate investment trust’s stock worth $1,353,000 after acquiring an additional 2,453 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of RLJ Lodging Trust in the 4th quarter worth approximately $157,000. Finally, Franklin Resources Inc. lifted its holdings in shares of RLJ Lodging Trust by 6.2% in the 4th quarter. Franklin Resources Inc. now owns 109,263 shares of the real estate investment trust’s stock worth $814,000 after acquiring an additional 6,339 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of RLJ Lodging Trust from $7.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, June 1st. 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 report on Monday, April 6th. Raymond James Financial lowered shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and upped their price objective for the stock from $9.00 to $11.00 in a report on Thursday, May 28th. Barclays upped their price objective on shares of RLJ Lodging Trust from $6.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, June 1st. Finally, Weiss Ratings upgraded shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, RLJ Lodging Trust presently has a consensus rating of “Reduce” and a consensus price target of $8.67.

RLJ Lodging Trust Price Performance

Shares of RLJ opened at $10.97 on Friday. RLJ Lodging Trust has a fifty-two week low of $6.54 and a fifty-two week high of $11.02. The firm’s 50 day moving average price is $8.86 and its 200 day moving average price is $8.12. The company has a market cap of $1.67 billion, a P/E ratio of -1,097.10 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 (NYSE:RLJ) last announced its earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share 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 firm had revenue of $339.98 million for the quarter, compared to the consensus estimate of $323.51 million. During the same period in the prior year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, research analysts forecast that RLJ Lodging Trust will post 1.22 earnings per share for the current fiscal year.

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.