Putnam Investments LLC Sells 24,103 Shares of RLJ Lodging Trust (NYSE:RLJ)

Putnam Investments LLC cut its holdings in RLJ Lodging Trust (NYSE:RLJ) by 7.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 306,515 shares of the real estate investment trust’s stock after selling 24,103 shares during the period. Putnam Investments LLC owned 0.19% of RLJ Lodging Trust worth $3,249,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in RLJ Lodging Trust in the 1st quarter worth approximately $69,000. US Bancorp DE boosted its holdings in RLJ Lodging Trust by 45.7% in the 1st quarter. US Bancorp DE now owns 3,404 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 1,067 shares during the period. Point72 Middle East FZE bought a new position in RLJ Lodging Trust in the 4th quarter worth approximately $38,000. Tower Research Capital LLC TRC boosted its holdings 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 worth $39,000 after buying an additional 2,828 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in RLJ Lodging Trust in the 1st quarter worth approximately $54,000. 93.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com assumed coverage on shares of RLJ Lodging Trust in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. Barclays lowered their target price on shares of RLJ Lodging Trust from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 27th. Wells Fargo & Company increased their target price on shares of RLJ Lodging Trust from $10.50 to $11.00 in a research note on Wednesday, July 12th. Truist Financial lowered their target price on shares of RLJ Lodging Trust from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Oppenheimer cut 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. One investment 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 $14.29.

RLJ Lodging Trust Stock Performance

RLJ Lodging Trust stock opened at $10.08 on Monday. The firm’s fifty day moving average price is $9.98 and its 200-day moving average price is $10.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.76 and a current ratio of 3.76. The stock has a market cap of $1.59 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 2.63 and a beta of 1.74. RLJ Lodging Trust has a fifty-two week low of $9.27 and a fifty-two week high of $12.92.

RLJ Lodging Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Saturday, September 30th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Thursday, September 28th. This is a boost from RLJ Lodging Trust’s previous quarterly dividend of $0.08. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently 125.00%.

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.