Pendal Group Ltd reduced its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 12.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,600 shares of the real estate investment trust’s stock after selling 7,900 shares during the quarter. Pendal Group Ltd’s holdings in RLJ Lodging Trust were worth $986,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Citigroup Inc. raised its stake in RLJ Lodging Trust by 17.2% during the 1st quarter. Citigroup Inc. now owns 138,062 shares of the real estate investment trust’s stock valued at $2,426,000 after purchasing an additional 20,228 shares during the period. Financial Counselors Inc. increased its stake in shares of RLJ Lodging Trust by 13.4% in the first quarter. Financial Counselors Inc. now owns 211,088 shares of the real estate investment trust’s stock worth $3,709,000 after acquiring an additional 24,863 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of RLJ Lodging Trust by 8.0% in the first quarter. New York State Common Retirement Fund now owns 386,291 shares of the real estate investment trust’s stock worth $6,787,000 after acquiring an additional 28,758 shares during the last quarter. Norges Bank acquired a new position in shares of RLJ Lodging Trust in the fourth quarter worth $32,306,000. Finally, State of Alaska Department of Revenue increased its stake in shares of RLJ Lodging Trust by 17.2% in the second quarter. State of Alaska Department of Revenue now owns 66,916 shares of the real estate investment trust’s stock worth $1,186,000 after acquiring an additional 9,832 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors.
Shares of NYSE RLJ traded up $0.25 during mid-day trading on Friday, reaching $16.03. The company had a trading volume of 24,197 shares, compared to its average volume of 1,392,683. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.09 and a current ratio of 4.34. The stock has a market capitalization of $2.72 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 1.54 and a beta of 1.30. RLJ Lodging Trust has a twelve month low of $15.65 and a twelve month high of $23.31. The stock’s 50 day moving average is $17.26 and its 200-day moving average is $18.03.
In other RLJ Lodging Trust news, Director Forgia Robert M. La bought 5,000 shares of the stock in a transaction on Monday, June 3rd. The shares were purchased at an average cost of $17.05 per share, with a total value of $85,250.00. Following the completion of the transaction, the director now directly owns 53,619 shares of the company’s stock, valued at approximately $914,203.95. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Patricia L. Gibson bought 10,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of $16.37 per share, for a total transaction of $163,700.00. Following the completion of the transaction, the director now directly owns 38,508 shares of the company’s stock, valued at $630,375.96. The disclosure for this purchase can be found here. Corporate insiders own 1.70% of the company’s stock.
A number of research firms have recently weighed in on RLJ. Barclays set a $20.00 price target on shares of RLJ Lodging Trust and gave the stock a “buy” rating in a research note on Monday. Capital One Financial began coverage on shares of RLJ Lodging Trust in a research note on Tuesday, June 25th. They issued an “equal weight” rating and a $21.00 price target on the stock. Zacks Investment Research raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Wells Fargo & Co raised shares of RLJ Lodging Trust from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $18.00 to $20.00 in a research note on Wednesday, May 15th. Finally, SunTrust Banks downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $21.88.
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 consists of 150 hotels with approximately 28,600 rooms, located in 25 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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