Algert Global LLC Lowers Holdings in RLJ Lodging Trust (NYSE:RLJ)

Algert Global LLC reduced its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 23.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 187,205 shares of the real estate investment trust’s stock after selling 58,794 shares during the period. Algert Global LLC’s holdings in RLJ Lodging Trust were worth $1,719,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Donald Smith & CO. Inc. grew its holdings in RLJ Lodging Trust by 46.6% during the third quarter. Donald Smith & CO. Inc. now owns 4,855,122 shares of the real estate investment trust’s stock worth $44,570,000 after acquiring an additional 1,543,848 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of RLJ Lodging Trust by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust’s stock worth $32,977,000 after purchasing an additional 170,484 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of RLJ Lodging Trust by 25.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,991,625 shares of the real estate investment trust’s stock valued at $18,283,000 after purchasing an additional 400,100 shares in the last quarter. LSV Asset Management increased its holdings in shares of RLJ Lodging Trust by 9.8% during the 2nd quarter. LSV Asset Management now owns 1,699,595 shares of the real estate investment trust’s stock valued at $16,367,000 after purchasing an additional 152,395 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of RLJ Lodging Trust by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 980,894 shares of the real estate investment trust’s stock valued at $9,446,000 after purchasing an additional 51,981 shares during the period. Hedge funds and other institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Stock Up 0.7 %

Shares of RLJ opened at $10.14 on Thursday. The stock has a 50 day moving average price of $9.39 and a 200 day moving average price of $9.49. RLJ Lodging Trust has a one year low of $8.74 and a one year high of $12.39. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 0.96 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 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). The business had revenue of $345.74 million during 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%. RLJ Lodging Trust’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. Equities research analysts forecast that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RLJ has been the subject of a number of recent analyst reports. Oppenheimer lifted their price objective on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Truist Financial cut their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company downgraded RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $11.00 to $9.00 in a research report on Friday, September 13th. Wolfe Research cut RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Finally, Compass Point lowered RLJ Lodging Trust from a “buy” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $10.00 in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.29.

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.