TIAA CREF Investment Management LLC reduced its position in RLJ Lodging Trust (NYSE:RLJ) by 27.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 333,022 shares of the real estate investment trust’s stock after selling 127,802 shares during the period. TIAA CREF Investment Management LLC owned about 0.27% of RLJ Lodging Trust worth $6,617,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of RLJ. UBS Asset Management Americas Inc. increased its position in RLJ Lodging Trust by 23.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 265,152 shares of the real estate investment trust’s stock worth $6,234,000 after purchasing an additional 49,507 shares during the last quarter. Karp Capital Management Corp acquired a new position in RLJ Lodging Trust in the 1st quarter worth about $407,000. Ameriprise Financial Inc. increased its position in RLJ Lodging Trust by 30.1% in the 1st quarter. Ameriprise Financial Inc. now owns 395,035 shares of the real estate investment trust’s stock worth $9,288,000 after purchasing an additional 91,303 shares during the last quarter. SG Americas Securities LLC increased its position in RLJ Lodging Trust by 8.0% in the 1st quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock worth $196,000 after purchasing an additional 615 shares during the last quarter. Finally, American International Group Inc. increased its position in RLJ Lodging Trust by 5.5% in the 1st quarter. American International Group Inc. now owns 73,997 shares of the real estate investment trust’s stock worth $1,740,000 after purchasing an additional 3,848 shares during the last quarter.
RLJ Lodging Trust (NYSE:RLJ) opened at 22.38 on Friday. The stock’s 50 day moving average price is $21.32 and its 200-day moving average price is $21.15. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 15.43 and a beta of 1.17. RLJ Lodging Trust has a one year low of $18.92 and a one year high of $25.10.
RLJ Lodging Trust (NYSE:RLJ) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $292.28 million for the quarter, compared to the consensus estimate of $293.16 million. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. RLJ Lodging Trust’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. Analysts forecast that RLJ Lodging Trust will post $1.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Wednesday, August 30th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Monday, August 28th. RLJ Lodging Trust’s dividend payout ratio is currently 30.34%.
In other RLJ Lodging Trust news, Director Forgia Robert M. La purchased 5,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were purchased at an average price of $19.73 per share, with a total value of $98,650.00. Following the completion of the transaction, the director now directly owns 37,528 shares in the company, valued at $740,427.44. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nathaniel A. Davis sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $20.11, for a total value of $201,100.00. Following the transaction, the director now directly owns 72,928 shares in the company, valued at approximately $1,466,582.08. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
Several research analysts have weighed in on RLJ shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $25.00 target price on shares of RLJ Lodging Trust in a research report on Friday, August 4th. Canaccord Genuity raised RLJ Lodging Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $21.00 to $23.00 in a report on Friday, September 8th. ValuEngine raised RLJ Lodging Trust from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Barclays PLC initiated coverage on RLJ Lodging Trust in a report on Friday, October 6th. They set an “equal weight” rating and a $24.00 price objective on the stock. Finally, Deutsche Bank AG initiated coverage on RLJ Lodging Trust in a report on Tuesday, September 19th. They set a “hold” rating and a $22.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $24.18.
About RLJ Lodging Trust
RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.
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