NN Investment Partners Holdings N.V. bought a new stake in RLJ Lodging Trust (NYSE:RLJ) during the 2nd quarter, Holdings Channel reports. The firm bought 20,900 shares of the real estate investment trust’s stock, valued at approximately $197,000.
Several other hedge funds also recently modified their holdings of the company. Two Sigma Advisers LP increased its position in shares of RLJ Lodging Trust by 50.1% in the 1st quarter. Two Sigma Advisers LP now owns 451,923 shares of the real estate investment trust’s stock valued at $3,489,000 after purchasing an additional 150,800 shares during the last quarter. Legal & General Group Plc boosted its stake in RLJ Lodging Trust by 7.2% during the 1st quarter. Legal & General Group Plc now owns 994,678 shares of the real estate investment trust’s stock worth $7,679,000 after purchasing an additional 67,112 shares during the period. Guggenheim Capital LLC boosted its stake in RLJ Lodging Trust by 15.3% during the 1st quarter. Guggenheim Capital LLC now owns 55,610 shares of the real estate investment trust’s stock worth $430,000 after purchasing an additional 7,373 shares during the period. State Street Corp boosted its stake in RLJ Lodging Trust by 26.2% during the 1st quarter. State Street Corp now owns 7,907,761 shares of the real estate investment trust’s stock worth $61,120,000 after purchasing an additional 1,643,051 shares during the period. Finally, Arizona State Retirement System acquired a new stake in shares of RLJ Lodging Trust in the 1st quarter worth $309,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. SunTrust Banks upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating and increased their price target for the company from $7.00 to $8.00 in a report on Friday, July 24th. TheStreet downgraded shares of RLJ Lodging Trust from a “c” rating to a “d+” rating in a report on Monday, May 18th. Raymond James lowered their price target on shares of RLJ Lodging Trust from $14.50 to $12.00 and set an “outperform” rating for the company in a report on Tuesday, July 14th. KeyCorp decreased their target price on shares of RLJ Lodging Trust from $20.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Robert W. Baird cut shares of RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Wednesday, June 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. RLJ Lodging Trust currently has an average rating of “Hold” and an average price target of $12.06.
RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Tuesday, May 12th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.45). The company had revenue of $265.50 million during the quarter, compared to the consensus estimate of $261.41 million. RLJ Lodging Trust had a return on equity of 2.50% and a net margin of 4.98%. The firm’s quarterly revenue was down 33.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. As a group, equities research analysts forecast that RLJ Lodging Trust will post -0.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, June 29th. This represents a $0.04 annualized dividend and a yield of 0.50%. RLJ Lodging Trust’s payout ratio is 1.97%.
About RLJ Lodging Trust
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 consists of 150 hotels with approximately 28,600 rooms, located in 25 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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