Capital Fund Management S.A. cut its stake in RLJ Lodging Trust (NYSE:RLJ) by 68.4% during the second quarter, Holdings Channel reports. The firm owned 112,855 shares of the real estate investment trust’s stock after selling 244,074 shares during the period. Capital Fund Management S.A.’s holdings in RLJ Lodging Trust were worth $2,421,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Virginia Retirement System purchased a new position in shares of RLJ Lodging Trust during the first quarter valued at approximately $1,066,000. Los Angeles Capital Management & Equity Research Inc. increased its position in RLJ Lodging Trust by 22.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 28,704 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 5,335 shares during the last quarter. Teachers Advisors Inc. increased its position in RLJ Lodging Trust by 285.3% in the first quarter. Teachers Advisors Inc. now owns 735,062 shares of the real estate investment trust’s stock valued at $16,818,000 after buying an additional 544,300 shares during the last quarter. Prudential Financial Inc. increased its position in RLJ Lodging Trust by 73.6% in the first quarter. Prudential Financial Inc. now owns 610,060 shares of the real estate investment trust’s stock valued at $13,958,000 after buying an additional 258,600 shares during the last quarter. Finally, BlackRock Japan Co. Ltd increased its position in RLJ Lodging Trust by 18.1% in the first quarter. BlackRock Japan Co. Ltd now owns 110,901 shares of the real estate investment trust’s stock valued at $2,537,000 after buying an additional 17,034 shares during the last quarter.
RLJ Lodging Trust (NYSE:RLJ) traded down 1.37% during trading on Wednesday, reaching $20.81. 828,972 shares of the company’s stock were exchanged. 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 price is $22.20 and its 200 day moving average price is $21.99. The firm has a market cap of $2.58 billion, a P/E ratio of 13.21 and a beta of 1.12.
RLJ Lodging Trust (NYSE:RLJ) last issued 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 company had revenue of $317.11 million for the quarter, compared to analyst estimates of $318.47 million. RLJ Lodging Trust had a net margin of 17.13% and a return on equity of 9.11%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. Equities research analysts anticipate that RLJ Lodging Trust will post $1.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend is Wednesday, September 28th. RLJ Lodging Trust’s payout ratio is presently 84.08%.
Several research analysts have recently issued reports on RLJ shares. Zacks Investment Research upgraded shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, July 13th. Janney Montgomery Scott started coverage on shares of RLJ Lodging Trust in a report on Monday, September 26th. They set a “buy” rating and a $21.90 price objective on the stock. TheStreet downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Canaccord Genuity downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a report on Friday, July 15th. Finally, Robert W. Baird downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $24.00 in a report on Monday, August 8th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The stock 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 dated Monday, August 1st. The shares were sold at an average price of $23.62, for a total value of $236,200.00. Following the transaction, the chief financial officer now directly owns 283,636 shares of the company’s stock, valued at $6,699,482.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is currently owned by insiders.
RLJ Lodging Trust Company Profile
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.
Want to see what other hedge funds are holding RLJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RLJ Lodging Trust (NYSE:RLJ).
Receive News & Ratings for RLJ Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLJ Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.