RLJ Lodging Trust (NYSE:RLJ) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in RLJ Lodging Trust (NYSE:RLJ) by 4.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,166,593 shares of the real estate investment trust’s stock after acquiring an additional 240,254 shares during the period. JPMorgan Chase & Co.’s holdings in RLJ Lodging Trust were worth $47,429,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in RLJ. Quarry LP grew its stake in RLJ Lodging Trust by 197.3% during the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 3,627 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in RLJ Lodging Trust by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,564 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of RLJ Lodging Trust during the third quarter worth about $93,000. Aigen Investment Management LP acquired a new stake in RLJ Lodging Trust during the 3rd quarter worth $107,000. Finally, Metis Global Partners LLC raised its holdings in shares of RLJ Lodging Trust by 31.0% in the third quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 3,738 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

RLJ Lodging Trust Trading Up 0.1 %

NYSE RLJ opened at $9.98 on Monday. The company has a 50-day moving average of $9.95 and a 200-day moving average of $9.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. RLJ Lodging Trust has a 12 month low of $8.74 and a 12 month high of $12.39. The company has a market cap of $1.53 billion, a P/E ratio of 34.41, a P/E/G ratio of 2.31 and a beta of 1.70.

RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm had revenue of $345.74 million during the quarter, compared to analyst estimates of $342.93 million. During the same quarter in the previous year, the business posted $0.40 EPS. RLJ Lodging Trust’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that RLJ Lodging Trust will post 1.34 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date of this dividend is Tuesday, December 31st. RLJ Lodging Trust’s dividend payout ratio is presently 206.90%.

Analyst Ratings Changes

A number of research firms recently issued reports on RLJ. Wolfe Research lowered RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Truist Financial cut their price objective on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, October 28th. StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st. Oppenheimer lifted their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company upped their price objective on RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an “underweight” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

RLJ Lodging Trust Company Profile

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 currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.