RLJ Lodging Trust (NYSE:RLJ) Shares Sold by Hemington Wealth Management

Hemington Wealth Management lowered its stake in RLJ Lodging Trust (NYSE:RLJ) by 18.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 29,967 shares of the real estate investment trust’s stock after selling 6,560 shares during the quarter. Hemington Wealth Management’s holdings in RLJ Lodging Trust were worth $305,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in RLJ Lodging Trust by 34.9% in the 3rd 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 purchasing an additional 1,564 shares in the last quarter. Ground Swell Capital LLC purchased a new position in RLJ Lodging Trust in the 3rd quarter valued at $93,000. Aigen Investment Management LP purchased a new position in RLJ Lodging Trust in the 3rd quarter valued at $107,000. Metis Global Partners LLC lifted its holdings in RLJ Lodging Trust by 31.0% in the 3rd quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 3,738 shares in the last quarter. Finally, Creative Planning purchased a new position in RLJ Lodging Trust in the 3rd quarter valued at $275,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RLJ. Truist Financial decreased their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Wells Fargo & Company lifted their price target on RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an “underweight” rating in a report on Monday, December 9th. StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Oppenheimer lifted their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, RLJ Lodging Trust has a consensus rating of “Hold” and an average target price of $10.92.

RLJ Lodging Trust Stock Down 1.0 %

Shares of RLJ opened at $9.52 on Thursday. The firm has a market cap of $1.46 billion, a P/E ratio of 32.83 and a beta of 1.68. RLJ Lodging Trust has a 12-month low of $8.74 and a 12-month high of $12.39. The company’s 50-day moving average price is $10.03 and its 200 day moving average price is $9.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14.

RLJ Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 6.30%. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 206.90%.

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 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.