RLJ Lodging Trust (NYSE:RLJ - Get Free Report) Director Patricia L. Gibson purchased 10,000 shares of the business's stock in a transaction on Friday, March 28th. The stock was acquired at an average cost of $8.03 per share, with a total value of $80,300.00. Following the completion of the acquisition, the director now directly owns 124,217 shares in the company, valued at $997,462.51. The trade was a 8.76 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
RLJ Lodging Trust Stock Performance
Shares of RLJ stock opened at $7.91 on Tuesday. The stock's fifty day simple moving average is $9.28 and its 200-day simple moving average is $9.57. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 2.87 and a beta of 1.69. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. RLJ Lodging Trust has a 1-year low of $7.79 and a 1-year high of $11.99.
RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.36. The company had revenue of $329.99 million for the quarter, compared to analysts' expectations of $324.66 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. On average, sell-side analysts predict that RLJ Lodging Trust will post 1.37 earnings per share for the current fiscal year.
RLJ Lodging Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.15 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 7.59%. RLJ Lodging Trust's payout ratio is 222.22%.
Analysts Set New Price Targets
A number of analysts recently commented on RLJ shares. Truist Financial downgraded shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and dropped their target price for the stock from $11.00 to $10.00 in a report on Friday, March 21st. Wells Fargo & Company dropped their price target on RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a report on Tuesday, February 18th. KeyCorp cut their price objective on RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Finally, StockNews.com upgraded RLJ Lodging Trust from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $10.82.
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Institutional Investors Weigh In On RLJ Lodging Trust
Institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of RLJ Lodging Trust by 4.8% in the third quarter. State Street Corp now owns 7,397,290 shares of the real estate investment trust's stock worth $68,999,000 after acquiring an additional 340,271 shares during the last quarter. Donald Smith & CO. Inc. increased its position in RLJ Lodging Trust by 18.6% in the 4th quarter. Donald Smith & CO. Inc. now owns 5,756,233 shares of the real estate investment trust's stock worth $58,771,000 after purchasing an additional 901,111 shares during the last quarter. JPMorgan Chase & Co. increased its position in RLJ Lodging Trust by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust's stock worth $47,429,000 after purchasing an additional 240,254 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of RLJ Lodging Trust by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,930,177 shares of the real estate investment trust's stock worth $36,085,000 after purchasing an additional 44,121 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of RLJ Lodging Trust by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,690,945 shares of the real estate investment trust's stock valued at $37,685,000 after buying an additional 98,673 shares during the last quarter. Institutional investors and hedge funds own 92.35% of the company's stock.
RLJ Lodging Trust Company Profile
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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.
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