Public Employees Retirement System of Ohio Boosts Position in RLJ Lodging Trust (NYSE:RLJ)

Public Employees Retirement System of Ohio grew its position in RLJ Lodging Trust (NYSE:RLJ) by 0.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 389,527 shares of the real estate investment trust’s stock after purchasing an additional 1,634 shares during the period. Public Employees Retirement System of Ohio’s holdings in RLJ Lodging Trust were worth $3,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RLJ. Bank of New York Mellon Corp grew its stake in RLJ Lodging Trust by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 980,894 shares of the real estate investment trust’s stock valued at $9,446,000 after acquiring an additional 51,981 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of RLJ Lodging Trust by 87.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 22,427 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 10,483 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of RLJ Lodging Trust by 2.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,591,525 shares of the real estate investment trust’s stock valued at $15,326,000 after purchasing an additional 37,137 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of RLJ Lodging Trust during the 2nd quarter worth approximately $158,000. Finally, Wolverine Asset Management LLC raised its position in shares of RLJ Lodging Trust by 219.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 25,600 shares of the real estate investment trust’s stock worth $247,000 after purchasing an additional 17,589 shares during the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

RLJ Lodging Trust Stock Down 1.2 %

RLJ opened at $10.36 on Monday. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 2.31 and a beta of 1.72. RLJ Lodging Trust has a 12 month low of $8.74 and a 12 month high of $12.39. 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 business has a 50-day moving average of $9.62 and a two-hundred day moving average of $9.51.

RLJ Lodging Trust (NYSE:RLJ) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). The company had revenue of $345.74 million during the quarter, compared to analysts’ expectations of $342.93 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. RLJ Lodging Trust’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. On average, research analysts expect that RLJ Lodging Trust will post 1.34 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.79%. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 206.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RLJ. Oppenheimer increased their target price on RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Truist Financial dropped their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company upped their target price on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the company an “underweight” rating in a report on Monday, December 9th. Wolfe Research downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Finally, StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, RLJ Lodging Trust currently has a consensus rating of “Hold” and an average target price of $11.50.

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 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.