RLJ Lodging Trust (NYSE:RLJ) Position Reduced by Nordea Investment Management AB

Nordea Investment Management AB trimmed its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 37.4% during the fourth quarter, HoldingsChannel reports. The fund owned 546,762 shares of the real estate investment trust’s stock after selling 326,936 shares during the quarter. Nordea Investment Management AB’s holdings in RLJ Lodging Trust were worth $5,591,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RLJ. JPMorgan Chase & Co. lifted its position in shares of RLJ Lodging Trust by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust’s stock worth $47,429,000 after buying an additional 240,254 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of RLJ Lodging Trust by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,930,177 shares of the real estate investment trust’s stock worth $36,085,000 after buying an additional 44,121 shares during the last quarter. Barclays PLC lifted its position in shares of RLJ Lodging Trust by 97.4% in the 3rd quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust’s stock worth $2,495,000 after buying an additional 134,093 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of RLJ Lodging Trust by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 389,527 shares of the real estate investment trust’s stock worth $3,576,000 after buying an additional 1,634 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of RLJ Lodging Trust by 1.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 192,700 shares of the real estate investment trust’s stock worth $1,769,000 after buying an additional 2,500 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RLJ shares. Wells Fargo & Company raised their price target on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an “underweight” rating in a research report on Monday, December 9th. StockNews.com downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Thursday. Oppenheimer raised their price target on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Wolfe Research downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Finally, Truist Financial cut their price objective on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, RLJ Lodging Trust currently has an average rating of “Hold” and a consensus price target of $10.92.

RLJ Lodging Trust Trading Up 1.5 %

Shares of NYSE:RLJ opened at $9.83 on Friday. The company has a market cap of $1.51 billion, a PE ratio of 33.90, a P/E/G ratio of 2.31 and a beta of 1.70. The company’s 50-day moving average price is $10.01 and its 200 day moving average price is $9.56. RLJ Lodging Trust has a fifty-two week low of $8.74 and a fifty-two week high of $12.39. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14.

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

RLJ Lodging Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 6.10%. RLJ Lodging Trust’s payout ratio is 206.90%.

RLJ Lodging Trust 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.