Pictet Asset Management SA trimmed its stake in RLJ Lodging Trust (NYSE:RLJ – Free Report) by 27.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,507 shares of the real estate investment trust’s stock after selling 19,207 shares during the period. Pictet Asset Management SA’s holdings in RLJ Lodging Trust were worth $546,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. US Bancorp DE lifted its stake in RLJ Lodging Trust by 45.7% in the first quarter. US Bancorp DE now owns 3,404 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 1,067 shares during the last quarter. Point72 Middle East FZE purchased a new position in RLJ Lodging Trust during the 4th quarter valued at $38,000. Tower Research Capital LLC TRC grew its position in RLJ Lodging Trust by 319.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,713 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 2,828 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of RLJ Lodging Trust during the first quarter worth $54,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of RLJ Lodging Trust during the first quarter valued at $69,000. Hedge funds and other institutional investors own 93.77% of the company’s stock.
Analyst Upgrades and Downgrades
RLJ has been the topic of a number of research analyst reports. Oppenheimer downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “market perform” rating and set a $15.00 target price on the stock. in a research note on Thursday, July 20th. Wells Fargo & Company raised their price objective on RLJ Lodging Trust from $10.50 to $11.00 in a report on Wednesday, July 12th. Truist Financial reduced their price objective on RLJ Lodging Trust from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, July 20th. StockNews.com assumed coverage on RLJ Lodging Trust in a report on Thursday, August 17th. They set a “sell” rating on the stock. Finally, Barclays reduced their price objective on RLJ Lodging Trust from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.43.
RLJ Lodging Trust Stock Down 0.3 %
RLJ Lodging Trust stock opened at $9.57 on Monday. RLJ Lodging Trust has a 1-year low of $9.27 and a 1-year high of $12.92. The business has a fifty day moving average price of $10.02 and a 200-day moving average price of $10.44. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.76 and a quick ratio of 3.76. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.56 and a beta of 1.73.
RLJ Lodging Trust Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Saturday, September 30th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from RLJ Lodging Trust’s previous quarterly dividend of $0.08. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 100.00%.
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.
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