Ameriprise Financial Inc. decreased its position in RLJ Lodging Trust (NYSE:RLJ) by 16.4% during the second quarter, Holdings Channel reports. The institutional investor owned 465,895 shares of the real estate investment trust’s stock after selling 91,176 shares during the period. Ameriprise Financial Inc. owned about 0.38% of RLJ Lodging Trust worth $9,995,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in RLJ Lodging Trust by 5,849.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,890 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 5,791 shares in the last quarter. Independent Portfolio Consultants Inc. raised its position in RLJ Lodging Trust by 0.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,270 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 20 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in RLJ Lodging Trust during the second quarter worth about $176,000. M&T Bank Corp raised its position in RLJ Lodging Trust by 17.9% in the first quarter. M&T Bank Corp now owns 12,010 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 1,821 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. acquired a new position in RLJ Lodging Trust during the second quarter worth about $425,000.
Shares of RLJ Lodging Trust (NYSE:RLJ) traded up 0.67% during midday trading on Friday, reaching $21.03. 1,362,968 shares of the company’s stock traded hands. The company has a market capitalization of $2.60 billion, a PE ratio of 13.35 and a beta of 1.05. RLJ Lodging Trust has a 52 week low of $16.15 and a 52 week high of $27.52. The stock’s 50 day moving average is $22.41 and its 200-day moving average is $22.03.
RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.36. The business earned $317.11 million during the quarter, compared to the consensus estimate of $318.47 million. RLJ Lodging Trust had a return on equity of 9.11% and a net margin of 17.13%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. On average, analysts forecast that RLJ Lodging Trust will post $1.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.28%. The ex-dividend date is Wednesday, September 28th. RLJ Lodging Trust’s payout ratio is currently 84.08%.
A number of research firms have issued reports on RLJ. Janney Montgomery Scott began coverage on shares of RLJ Lodging Trust in a research report on Monday, September 26th. They set a “buy” rating and a $21.90 price target for the company. Zacks Investment Research lowered shares of RLJ Lodging Trust from a “buy” rating to a “sell” rating in a research report on Thursday, August 11th. Robert W. Baird lowered shares of RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $24.00 in a research report on Monday, August 8th. TheStreet lowered shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Finally, Barclays PLC cut their target price on shares of RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, August 5th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.26.
In other news, CFO Leslie D. Hale sold 10,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $23.62, for a total value of $236,200.00. Following the completion of the sale, the chief financial officer now directly owns 283,636 shares of the company’s stock, valued at $6,699,482.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by insiders.
About RLJ Lodging Trust
RLJ Lodging Trust is a real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. The Company owns approximately 130 hotels with over 20,900 rooms, located in approximately 20 states and the District of Columbia, and an interest in a mortgage loan secured by a hotel.
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