RLJ Lodging Trust (NYSE:RLJ) Shares Purchased by CNB Bank

CNB Bank boosted its holdings in RLJ Lodging Trust (NYSE:RLJ) by 198.6% in the third quarter, HoldingsChannel.com reports. The firm owned 11,770 shares of the real estate investment trust’s stock after acquiring an additional 7,828 shares during the period. CNB Bank’s holdings in RLJ Lodging Trust were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. PGGM Investments lifted its stake in RLJ Lodging Trust by 322.2% in the second quarter. PGGM Investments now owns 7,242,838 shares of the real estate investment trust’s stock valued at $128,488,000 after buying an additional 5,527,205 shares during the last quarter. Northern Trust Corp lifted its stake in RLJ Lodging Trust by 64.1% in the second quarter. Northern Trust Corp now owns 4,510,289 shares of the real estate investment trust’s stock valued at $80,012,000 after buying an additional 1,762,423 shares during the last quarter. Invesco Ltd. lifted its stake in RLJ Lodging Trust by 184.1% in the second quarter. Invesco Ltd. now owns 4,292,181 shares of the real estate investment trust’s stock valued at $76,144,000 after buying an additional 2,781,382 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in RLJ Lodging Trust by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,300,744 shares of the real estate investment trust’s stock valued at $58,556,000 after buying an additional 61,131 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in RLJ Lodging Trust by 19.1% in the second quarter. Citadel Advisors LLC now owns 2,793,057 shares of the real estate investment trust’s stock valued at $49,549,000 after buying an additional 447,305 shares during the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Patricia L. Gibson acquired 10,000 shares of the business’s stock in a transaction that occurred 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 purchase, the director now directly owns 38,508 shares in the company, valued at $630,375.96. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Forgia Robert M. La acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $15.70 per share, for a total transaction of $78,500.00. The disclosure for this purchase can be found here. 1.70% of the stock is owned by insiders.

Shares of NYSE RLJ opened at $16.93 on Friday. RLJ Lodging Trust has a fifty-two week low of $15.65 and a fifty-two week high of $20.59. The firm’s 50-day simple moving average is $16.84 and its 200 day simple moving average is $17.33. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.78. The stock has a market cap of $3.02 billion, a P/E ratio of 7.49, a P/E/G ratio of 1.79 and a beta of 1.28.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Thursday, November 7th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.29). RLJ Lodging Trust had a net margin of 9.55% and a return on equity of 5.29%. The company had revenue of $371.12 million for the quarter, compared to the consensus estimate of $371.81 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. RLJ Lodging Trust’s revenue for the quarter was down 17.0% compared to the same quarter last year. On average, sell-side analysts anticipate that RLJ Lodging Trust will post 1.96 earnings per share for the current fiscal year.

The business also recently disclosed a — dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.33 per share. This represents a dividend yield of 7.5%. The ex-dividend date of this dividend was Friday, September 27th. RLJ Lodging Trust’s dividend payout ratio is currently 58.41%.

A number of research firms have issued reports on RLJ. Wells Fargo & Co cut their target price on RLJ Lodging Trust from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Royal Bank of Canada set a $20.00 target price on RLJ Lodging Trust and gave the company a “buy” rating in a research note on Friday, August 30th. Barclays set a $20.00 target price on RLJ Lodging Trust and gave the company a “buy” rating in a research note on Monday, August 12th. SunTrust Banks cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Finally, Deutsche Bank cut their target price on RLJ Lodging Trust from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.63.

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 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.

Featured Story: What does it mean to hold a stock in street name?

Want to see what other hedge funds are holding RLJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RLJ Lodging Trust (NYSE:RLJ).

Institutional Ownership by Quarter for RLJ Lodging Trust (NYSE:RLJ)

Receive News & Ratings for RLJ Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLJ Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.