Wolverine Asset Management LLC Has $197,000 Stake in RLJ Lodging Trust (NYSE:RLJ)

Wolverine Asset Management LLC trimmed its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 56.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,301 shares of the real estate investment trust’s stock after selling 25,505 shares during the period. Wolverine Asset Management LLC’s holdings in RLJ Lodging Trust were worth $197,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Handelsbanken Fonder AB boosted its stake in RLJ Lodging Trust by 21.8% during the 4th quarter. Handelsbanken Fonder AB now owns 47,441 shares of the real estate investment trust’s stock valued at $484,000 after purchasing an additional 8,500 shares during the period. New York State Common Retirement Fund grew its stake in RLJ Lodging Trust by 28.0% during the fourth quarter. New York State Common Retirement Fund now owns 985,899 shares of the real estate investment trust’s stock worth $10,066,000 after buying an additional 215,504 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in RLJ Lodging Trust during the 4th quarter valued at $277,000. Rhumbline Advisers raised its holdings in shares of RLJ Lodging Trust by 0.5% in the fourth quarter. Rhumbline Advisers now owns 282,846 shares of the real estate investment trust’s stock valued at $2,888,000 after buying an additional 1,320 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of RLJ Lodging Trust during the fourth quarter worth approximately $355,000. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Stock Down 2.3 %

RLJ Lodging Trust stock opened at $9.36 on Monday. 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 company’s 50-day moving average is $9.90 and its 200-day moving average is $9.63. The firm has a market capitalization of $1.43 billion, a PE ratio of 32.27, a P/E/G ratio of 2.87 and a beta of 1.68. RLJ Lodging Trust has a fifty-two week low of $8.74 and a fifty-two week high of $12.39.

RLJ Lodging Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.41%. RLJ Lodging Trust’s payout ratio is 206.90%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RLJ. Wells Fargo & Company dropped their price objective on RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating for the company in a report on Tuesday, February 18th. Truist Financial dropped their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Oppenheimer increased their target price on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 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 company. According to data from MarketBeat.com, RLJ Lodging Trust has an average rating of “Hold” and a consensus price target of $10.79.

About RLJ Lodging Trust

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.