RLJ Lodging Trust (NYSE:RLJ) Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 389,527 shares of the real estate investment trust’s stock after purchasing an additional 1,634 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.25% of RLJ Lodging Trust worth $3,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in RLJ Lodging Trust by 5.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 980,894 shares of the real estate investment trust’s stock worth $9,446,000 after acquiring an additional 51,981 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of RLJ Lodging Trust by 87.8% in the 2nd 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 during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of RLJ Lodging Trust by 2.4% in the 2nd 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 period. Picton Mahoney Asset Management purchased a new position in RLJ Lodging Trust during the 2nd quarter worth approximately $158,000. Finally, Wolverine Asset Management LLC increased its position in RLJ Lodging Trust by 219.6% during the second quarter. Wolverine Asset Management LLC now owns 25,600 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 17,589 shares during the period. Hedge funds and other institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Price Performance

Shares of RLJ opened at $10.36 on Monday. The firm has a market capitalization of $1.59 billion, a PE ratio of 35.72, a P/E/G ratio of 2.31 and a beta of 1.72. The stock’s 50 day moving average is $9.62 and its two-hundred day moving average is $9.51. RLJ Lodging Trust has a twelve month low of $8.74 and a twelve month high of $12.39. 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 (NYSE:RLJ) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The business had revenue of $345.74 million during the quarter, compared to analysts’ expectations of $342.93 million. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Research analysts anticipate that RLJ Lodging Trust will post 1.34 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid 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 206.90%.

Wall Street Analyst Weigh In

RLJ has been the subject of several research analyst reports. Oppenheimer increased their price objective on RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Wells Fargo & Company increased their target price on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an “underweight” rating in a research note on Monday, December 9th. StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Truist Financial decreased 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company 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.