RLJ Lodging Trust (NYSE:RLJ) Stock Position Decreased by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its stake in RLJ Lodging Trust (NYSE:RLJ) by 0.2% during the third quarter, HoldingsChannel.com reports. The fund owned 3,099,425 shares of the real estate investment trust’s stock after selling 6,018 shares during the period. Fisher Asset Management LLC’s holdings in RLJ Lodging Trust were worth $28,453,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quarry LP increased its stake in RLJ Lodging Trust by 197.3% in the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 3,627 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of RLJ Lodging Trust by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,564 shares during the period. Ground Swell Capital LLC purchased a new position in shares of RLJ Lodging Trust in the third quarter worth approximately $93,000. Aigen Investment Management LP acquired a new stake in shares of RLJ Lodging Trust during the third quarter valued at approximately $107,000. Finally, BOKF NA purchased a new stake in shares of RLJ Lodging Trust in the 1st quarter valued at approximately $139,000. 92.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on RLJ shares. StockNews.com cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lowered RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $11.00 to $9.00 in a research report on Friday, September 13th. Wolfe Research lowered RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Oppenheimer upped 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. Finally, Truist Financial decreased their price target on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, October 28th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, RLJ Lodging Trust presently has an average rating of “Hold” and an average target price of $11.29.

RLJ Lodging Trust Stock Performance

Shares of RLJ stock opened at $10.06 on Wednesday. The firm has a market cap of $1.54 billion, a P/E ratio of 34.67, a PEG ratio of 0.94 and a beta of 1.70. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. RLJ Lodging Trust has a fifty-two week low of $8.74 and a fifty-two week high of $12.39. The stock’s 50-day moving average is $9.38 and its two-hundred day moving average is $9.49.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.23). The business had revenue of $345.74 million for the quarter, compared to the consensus estimate 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 was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. Analysts predict that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

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.