New York State Common Retirement Fund Has $7.76 Million Position in RLJ Lodging Trust (NYSE:RLJ)

New York State Common Retirement Fund lessened its holdings in RLJ Lodging Trust (NYSE:RLJ) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 983,268 shares of the real estate investment trust’s stock after selling 2,631 shares during the quarter. New York State Common Retirement Fund owned 0.65% of RLJ Lodging Trust worth $7,758,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Cibc World Markets Corp acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at approximately $146,000. Thrivent Financial for Lutherans acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at approximately $4,374,000. Xponance Inc. acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at approximately $112,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of RLJ Lodging Trust by 84.1% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,286 shares of the real estate investment trust’s stock valued at $503,000 after purchasing an additional 22,515 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at approximately $360,000. Institutional investors own 92.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RLJ. Wells Fargo & Company raised their price objective on shares of RLJ Lodging Trust from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. KeyCorp decreased their target price on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Wall Street Zen downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Truist Financial decreased their target price on shares of RLJ Lodging Trust from $10.00 to $7.00 and set a “hold” rating for the company in a research report on Monday, June 9th. Finally, Oppenheimer decreased their target price on shares of RLJ Lodging Trust from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, RLJ Lodging Trust currently has a consensus rating of “Hold” and a consensus target price of $9.50.

RLJ Lodging Trust Stock Up 0.5%

RLJ stock opened at $7.55 on Friday. The business’s 50-day moving average is $7.41 and its two-hundred day moving average is $8.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.57 and a current ratio of 2.57. RLJ Lodging Trust has a fifty-two week low of $6.16 and a fifty-two week high of $10.84. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 2.40 and a beta of 1.47.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $328.12 million during the quarter, compared to analysts’ expectations of $328.08 million. RLJ Lodging Trust had a return on equity of 3.43% and a net margin of 4.84%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. As a group, analysts forecast that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, June 30th. This represents a $0.60 annualized dividend and a yield of 7.95%. RLJ Lodging Trust’s dividend payout ratio (DPR) is 230.77%.

RLJ Lodging Trust 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.