Shell Asset Management Co. lessened its holdings in RLJ Lodging Trust (NYSE:RLJ – Get Rating) by 17.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,916 shares of the real estate investment trust’s stock after selling 5,846 shares during the quarter. Shell Asset Management Co.’s holdings in RLJ Lodging Trust were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in shares of RLJ Lodging Trust during the third quarter valued at $74,000. Tower Research Capital LLC TRC increased its stake in shares of RLJ Lodging Trust by 60.7% during the third quarter. Tower Research Capital LLC TRC now owns 8,857 shares of the real estate investment trust’s stock valued at $89,000 after buying an additional 3,345 shares during the period. Utah Retirement Systems purchased a new position in shares of RLJ Lodging Trust during the second quarter valued at $131,000. Envestnet Asset Management Inc. purchased a new position in shares of RLJ Lodging Trust during the fourth quarter valued at $132,000. Finally, Inspire Advisors LLC purchased a new position in shares of RLJ Lodging Trust during the third quarter valued at $142,000. Institutional investors own 88.89% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Wells Fargo & Company cut their price target on RLJ Lodging Trust from $13.00 to $10.50 and set an “equal weight” rating on the stock in a research note on Thursday, March 30th. StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Monday, March 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.58.
RLJ Lodging Trust Trading Down 0.4 %
RLJ Lodging Trust (NYSE:RLJ – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $302.20 million during the quarter, compared to the consensus estimate of $304.99 million. RLJ Lodging Trust had a return on equity of 3.29% and a net margin of 5.36%. RLJ Lodging Trust’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. As a group, analysts forecast that RLJ Lodging Trust will post 1.52 EPS for the current year.
RLJ Lodging Trust Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 31st were given a $0.08 dividend. The ex-dividend date was Thursday, March 30th. This is a boost from RLJ Lodging Trust’s previous quarterly dividend of $0.05. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.99%. RLJ Lodging Trust’s payout ratio is 123.08%.
About RLJ Lodging Trust
RLJ Lodging Trust is a real estate investment trust, which engages in the ownership and acquisition of hotels. It operates through the following hotel brands: Embassy Suites, Marriott, Hilton, Hyatt House, Hyatt Place, Hilton Garden Inn, Wyndham, Renaissance, Fairfield Inn & Suites, Holiday Inn Express, Sleep Inn, Hampton Inn, Hotel Indigo, IHG, SpringHill Suites, Hyatt Centric, and Homewood Suites.
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