RLJ Lodging Trust (NYSE:RLJ) Sees Strong Trading Volume Following Insider Buying Activity

RLJ Lodging Trust (NYSE:RLJ) shares saw strong trading volume on Monday after an insider bought additional shares in the company. 3,262,402 shares changed hands during mid-day trading, an increase of 103% from the previous session’s volume of 1,610,286 shares.The stock last traded at $7.89 and had previously closed at $7.87.

Specifically, Director Patricia L. Gibson bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were bought at an average cost of $8.03 per share, with a total value of $80,300.00. Following the completion of the purchase, the director now directly owns 124,217 shares of the company’s stock, valued at $997,462.51. This trade represents a 8.76 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RLJ shares. StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial lowered shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $11.00 to $10.00 in a report on Friday, March 21st. Wells Fargo & Company reduced their target price 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. Finally, KeyCorp reduced their target price on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, RLJ Lodging Trust presently has an average rating of “Hold” and an average target price of $10.82.

RLJ Lodging Trust Stock Performance

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 price of $9.24 and a 200 day moving average price of $9.56. The stock has a market capitalization of $1.20 billion, a PE ratio of 27.19, a PEG ratio of 2.87 and a beta of 1.69.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 EPS 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 the consensus estimate of $324.66 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. As a group, equities research analysts expect that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 7.56%. The ex-dividend date is Monday, March 31st. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 222.22%.

Hedge Funds Weigh In On RLJ Lodging Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new stake in shares of RLJ Lodging Trust during the fourth quarter valued at $29,000. US Bancorp DE boosted its position in shares of RLJ Lodging Trust by 78.2% in the fourth quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,417 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of RLJ Lodging Trust during the 4th quarter valued at $111,000. Xponance Inc. purchased a new position in shares of RLJ Lodging Trust during the 4th quarter valued at $112,000. Finally, EntryPoint Capital LLC boosted its holdings in RLJ Lodging Trust by 23.8% in the 4th quarter. EntryPoint Capital LLC now owns 13,659 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 2,624 shares during the period. 92.35% of the stock is owned by institutional investors.

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.