Cerity Partners LLC Buys 6,039 Shares of RLJ Lodging Trust (NYSE:RLJ)

Cerity Partners LLC raised its stake in RLJ Lodging Trust (NYSE:RLJ) by 12.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,310 shares of the real estate investment trust’s stock after purchasing an additional 6,039 shares during the period. Cerity Partners LLC’s holdings in RLJ Lodging Trust were worth $508,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP raised its stake in RLJ Lodging Trust by 197.3% during the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 3,627 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in RLJ Lodging Trust by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,564 shares during the period. Ground Swell Capital LLC acquired a new stake in RLJ Lodging Trust in the third quarter valued at approximately $93,000. Aigen Investment Management LP bought a new stake in shares of RLJ Lodging Trust during the third quarter valued at approximately $107,000. Finally, Metis Global Partners LLC raised its position in shares of RLJ Lodging Trust by 31.0% during the third quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 3,738 shares during the period. Institutional investors and hedge funds own 92.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on RLJ shares. Wells Fargo & Company downgraded shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $11.00 to $9.00 in a research report on Friday, September 13th. Oppenheimer upped their target price on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Truist Financial cut their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 28th. StockNews.com raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Friday. Finally, Wolfe Research cut RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.29.

RLJ Lodging Trust Stock Performance

RLJ stock opened at $10.43 on Friday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The firm has a market cap of $1.60 billion, a PE ratio of 35.97, a P/E/G ratio of 2.36 and a beta of 1.72. The business has a 50 day moving average of $9.50 and a 200-day moving average of $9.49. RLJ Lodging Trust has a 12-month low of $8.74 and a 12-month high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). The business had revenue of $345.74 million during the quarter, compared to the consensus estimate of $342.93 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. As a group, sell-side analysts expect that RLJ Lodging Trust will post 1.34 earnings per share for the current year.

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.