Wolverine Asset Management LLC Sells 239,537 Shares of RLJ Lodging Trust $RLJ

Wolverine Asset Management LLC trimmed its position in RLJ Lodging Trust (NYSE:RLJ) by 79.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,112 shares of the real estate investment trust’s stock after selling 239,537 shares during the quarter. Wolverine Asset Management LLC’s holdings in RLJ Lodging Trust were worth $448,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in RLJ Lodging Trust by 2,721.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 3,347 shares during the last quarter. Daytona Street Capital LLC acquired a new stake in RLJ Lodging Trust during the fourth quarter worth approximately $28,000. Aster Capital Management DIFC Ltd acquired a new stake in RLJ Lodging Trust during the third quarter worth approximately $36,000. Danske Bank A S acquired a new stake in RLJ Lodging Trust during the third quarter worth approximately $50,000. Finally, State of Wyoming lifted its position in RLJ Lodging Trust by 23.6% during the third quarter. State of Wyoming now owns 9,120 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 1,741 shares during the last quarter. 92.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RLJ has been the subject of several research reports. Truist Financial cut their price objective on shares of RLJ Lodging Trust from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Zacks Research upgraded shares of RLJ Lodging Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings upgraded shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Finally, LADENBURG THALM/SH SH initiated coverage on shares of RLJ Lodging Trust in a research report on Thursday, March 26th. They set a “neutral” rating and a $8.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.00.

RLJ Lodging Trust Stock Up 0.2%

Shares of RLJ opened at $8.79 on Thursday. RLJ Lodging Trust has a 12 month low of $6.54 and a 12 month high of $8.94. The firm’s 50 day moving average is $7.85 and its 200-day moving average is $7.65. The stock has a market capitalization of $1.33 billion, a PE ratio of -878.50 and a beta of 1.09. The company has a current ratio of 2.89, a quick ratio of 2.96 and a debt-to-equity ratio of 1.22.

RLJ Lodging Trust (NYSE:RLJ) last announced its earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The company had revenue of $339.98 million for the quarter, compared to analysts’ expectations of $323.51 million. During the same period last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts forecast that RLJ Lodging Trust will post 1.22 EPS for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 6.8%. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently -6,000.00%.

RLJ Lodging Trust Profile

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.