Cim Investment Management Inc. Sells 5,135 Shares of RLJ Lodging Trust (NYSE:RLJ)

Cim Investment Management Inc. trimmed its position in RLJ Lodging Trust (NYSE:RLJ) by 19.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 21,611 shares of the real estate investment trust’s stock after selling 5,135 shares during the period. Cim Investment Management Inc.’s holdings in RLJ Lodging Trust were worth $208,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Lighthouse Investment Partners LLC raised its position in RLJ Lodging Trust by 50.9% in the second quarter. Lighthouse Investment Partners LLC now owns 860,000 shares of the real estate investment trust’s stock valued at $8,282,000 after purchasing an additional 290,000 shares during the last quarter. AQR Capital Management LLC raised its holdings in RLJ Lodging Trust by 9.1% in the 2nd quarter. AQR Capital Management LLC now owns 571,240 shares of the real estate investment trust’s stock valued at $5,501,000 after buying an additional 47,475 shares during the last quarter. Sei Investments Co. boosted its position in RLJ Lodging Trust by 23.8% during the 2nd quarter. Sei Investments Co. now owns 393,842 shares of the real estate investment trust’s stock worth $3,793,000 after buying an additional 75,654 shares during the period. XTX Topco Ltd bought a new stake in RLJ Lodging Trust during the 2nd quarter worth approximately $439,000. Finally, Hsbc Holdings PLC grew its holdings in RLJ Lodging Trust by 18.1% during the 2nd quarter. Hsbc Holdings PLC now owns 227,058 shares of the real estate investment trust’s stock worth $2,180,000 after acquiring an additional 34,828 shares during the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Compass Point lowered shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $10.00 in a report on Monday, August 5th. Wells Fargo & Company downgraded RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $11.00 to $9.00 in a report on Friday, September 13th. Wolfe Research lowered RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday. Robert W. Baird lowered their price objective on RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, June 11th. Finally, Bank of America reduced their target price on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.25.

RLJ Lodging Trust Trading Down 0.9 %

NYSE RLJ opened at $9.42 on Friday. The stock has a market capitalization of $1.46 billion, a P/E ratio of 33.64, a P/E/G ratio of 0.94 and a beta of 1.70. The business has a 50 day simple moving average of $9.32 and a 200 day simple moving average of $10.12. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60. RLJ Lodging Trust has a one year low of $8.79 and a one year high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.25). The company had revenue of $369.30 million for the quarter, compared to analyst estimates of $365.67 million. RLJ Lodging Trust had a return on equity of 3.34% and a net margin of 4.93%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. Research analysts expect that RLJ Lodging Trust will post 1.34 earnings per share for the current year.

RLJ Lodging Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from RLJ Lodging Trust’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 6.37%. RLJ Lodging Trust’s dividend payout ratio (DPR) is 142.86%.

About RLJ Lodging Trust

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.