Pallas Capital Advisors LLC Takes $155,000 Position in RLJ Lodging Trust $RLJ

Pallas Capital Advisors LLC bought a new position in shares of RLJ Lodging Trust (NYSE:RLJ) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,272 shares of the real estate investment trust’s stock, valued at approximately $155,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Donald Smith & CO. Inc. boosted its stake in RLJ Lodging Trust by 0.5% during the first quarter. Donald Smith & CO. Inc. now owns 5,785,113 shares of the real estate investment trust’s stock worth $45,645,000 after acquiring an additional 28,880 shares in the last quarter. Palisade Capital Management LP lifted its stake in shares of RLJ Lodging Trust by 0.4% in the first quarter. Palisade Capital Management LP now owns 3,071,508 shares of the real estate investment trust’s stock valued at $24,234,000 after buying an additional 11,235 shares in the last quarter. Woodline Partners LP lifted its stake in shares of RLJ Lodging Trust by 192.4% in the first quarter. Woodline Partners LP now owns 2,782,181 shares of the real estate investment trust’s stock valued at $21,951,000 after buying an additional 1,830,803 shares in the last quarter. LSV Asset Management lifted its stake in shares of RLJ Lodging Trust by 23.8% in the first quarter. LSV Asset Management now owns 1,662,214 shares of the real estate investment trust’s stock valued at $13,115,000 after buying an additional 319,319 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of RLJ Lodging Trust by 11.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 993,552 shares of the real estate investment trust’s stock valued at $7,839,000 after buying an additional 103,065 shares in the last quarter. 92.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RLJ has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of RLJ Lodging Trust from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Friday, September 5th. Wells Fargo & Company raised their price target on shares of RLJ Lodging Trust from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Tuesday, July 1st. Finally, Zacks Research raised shares of RLJ Lodging Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.50.

RLJ Lodging Trust Trading Down 2.0%

NYSE:RLJ opened at $7.52 on Tuesday. The company has a fifty day moving average of $7.55 and a 200 day moving average of $7.51. RLJ Lodging Trust has a 52 week low of $6.16 and a 52 week high of $10.84. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $1.14 billion, a P/E ratio of 35.81 and a beta of 1.50.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $363.10 million during the quarter, compared to analyst estimates of $365.30 million. RLJ Lodging Trust had a net margin of 4.23% and a return on equity of 3.03%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. RLJ Lodging Trust has set its FY 2025 guidance at 1.380-1.580 EPS. On average, research analysts predict that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 8.0%. RLJ Lodging Trust’s dividend payout ratio is presently 285.71%.

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.