Martingale Asset Management L P Has $134,000 Stake in RLJ Lodging Trust (NYSE:RLJ)

Martingale Asset Management L P lowered its stake in RLJ Lodging Trust (NYSE:RLJ) by 78.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,145 shares of the real estate investment trust’s stock after selling 46,916 shares during the quarter. Martingale Asset Management L P’s holdings in RLJ Lodging Trust were worth $134,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RLJ. Donald Smith & CO. Inc. grew its stake in RLJ Lodging Trust by 18.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 5,756,233 shares of the real estate investment trust’s stock valued at $58,771,000 after acquiring an additional 901,111 shares during the period. Norges Bank acquired a new stake in RLJ Lodging Trust in the 4th quarter valued at $5,426,000. Thrivent Financial for Lutherans bought a new stake in RLJ Lodging Trust during the 4th quarter valued at $4,374,000. Invesco Ltd. raised its holdings in RLJ Lodging Trust by 46.9% during the fourth quarter. Invesco Ltd. now owns 1,254,239 shares of the real estate investment trust’s stock worth $12,806,000 after buying an additional 400,261 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of RLJ Lodging Trust by 4.8% in the third quarter. State Street Corp now owns 7,397,290 shares of the real estate investment trust’s stock valued at $68,999,000 after buying an additional 340,271 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RLJ. Wells Fargo & Company lowered their target price on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating on the stock in a report on Tuesday, February 18th. Truist Financial lowered RLJ Lodging Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $11.00 to $10.00 in a report on Friday, March 21st. StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Tuesday, April 8th. Finally, KeyCorp dropped their price objective on RLJ Lodging Trust from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.82.

RLJ Lodging Trust Trading Down 0.7 %

Shares of RLJ Lodging Trust stock opened at $6.84 on Tuesday. The firm has a market cap of $1.04 billion, a PE ratio of 23.59, a P/E/G ratio of 2.87 and a beta of 1.51. RLJ Lodging Trust has a 1 year low of $6.16 and a 1 year high of $11.67. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a fifty day moving average price of $8.61 and a 200-day moving average price of $9.36.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.36. The business had revenue of $329.99 million for the quarter, compared to analyst estimates of $324.66 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. Equities research analysts anticipate that RLJ Lodging Trust will post 1.37 EPS for the current year.

RLJ Lodging Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 8.77%. The ex-dividend date is Monday, March 31st. RLJ Lodging Trust’s dividend payout ratio (DPR) is 222.22%.

Insiders Place Their Bets

In other RLJ Lodging Trust news, Director Patricia L. Gibson bought 10,000 shares of the business’s stock in a transaction on Friday, March 28th. The stock was purchased at an average price of $8.03 per share, for a total transaction of $80,300.00. Following the completion of the transaction, the director now directly owns 124,217 shares of the company’s stock, valued at $997,462.51. This trade represents a 8.76 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

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.