Citigroup Inc. Lowers Stake in RLJ Lodging Trust (NYSE:RLJ)

Citigroup Inc. reduced its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 2.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,811,735 shares of the real estate investment trust’s stock after selling 41,660 shares during the quarter. Citigroup Inc. owned 1.10% of RLJ Lodging Trust worth $27,592,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its position in RLJ Lodging Trust by 43.8% during the first quarter. Rockefeller Capital Management L.P. now owns 2,482 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 756 shares during the period. Eaton Vance Management purchased a new position in shares of RLJ Lodging Trust in the first quarter worth $46,000. Harvest Fund Management Co. Ltd bought a new stake in RLJ Lodging Trust in the first quarter worth $65,000. Quantbot Technologies LP bought a new position in RLJ Lodging Trust during the first quarter valued at $106,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of RLJ Lodging Trust in the first quarter worth about $110,000. Institutional investors and hedge funds own 91.67% of the company’s stock.

NYSE:RLJ opened at $14.36 on Friday. The stock’s 50 day simple moving average is $14.27 and its 200-day simple moving average is $15.16. RLJ Lodging Trust has a 12-month low of $7.75 and a 12-month high of $17.51. The firm has a market cap of $2.39 billion, a P/E ratio of -5.68 and a beta of 2.15. The company has a current ratio of 4.65, a quick ratio of 4.65 and a debt-to-equity ratio of 1.09.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Thursday, August 5th. The real estate investment trust reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.34). RLJ Lodging Trust had a negative net margin of 79.68% and a negative return on equity of 16.95%. Research analysts forecast that RLJ Lodging Trust will post -0.03 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently -4.08%.

Separately, Zacks Investment Research raised shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Wednesday, July 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $16.00.

RLJ Lodging Trust Profile

RLJ Lodging Trust is a real estate investment trust, which engages in the ownership and acquisition of hotels. It operates through the following hotel brands: Embassy Suites, Marriott, Hilton, Hyatt House, Hyatt Place, Hilton Garden Inn, Wyndham, Renaissance, Fairfield Inn & Suites, Holiday Inn Express, Sleep Inn, Hampton Inn, Hotel Indigo, IHG, SpringHill Suites, Hyatt Centric, and Homewood Suites.

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

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