Arrowstreet Capital Limited Partnership Cuts Holdings in RLJ Lodging Trust (NYSE:RLJ)

Arrowstreet Capital Limited Partnership lowered its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,510,505 shares of the real estate investment trust’s stock after selling 6,198 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in RLJ Lodging Trust were worth $15,422,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RLJ. Cerity Partners LLC raised its position in RLJ Lodging Trust by 12.3% during the third quarter. Cerity Partners LLC now owns 55,310 shares of the real estate investment trust’s stock valued at $508,000 after purchasing an additional 6,039 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of RLJ Lodging Trust by 294.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 841,753 shares of the real estate investment trust’s stock valued at $7,727,000 after buying an additional 628,157 shares in the last quarter. Centiva Capital LP bought a new stake in RLJ Lodging Trust in the 3rd quarter worth approximately $351,000. State Street Corp boosted its stake in 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 buying an additional 340,271 shares in the last quarter. Finally, Jane Street Group LLC grew its position in RLJ Lodging Trust by 44.5% during the third quarter. Jane Street Group LLC now owns 212,482 shares of the real estate investment trust’s stock valued at $1,951,000 after acquiring an additional 65,398 shares during the last quarter. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Stock Down 4.0 %

Shares of NYSE:RLJ opened at $6.83 on Friday. The stock’s 50-day moving average is $9.09 and its 200 day moving average is $9.51. The company has a market cap of $1.04 billion, a PE ratio of 23.53, a P/E/G ratio of 2.87 and a beta of 1.69. 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 1 year low of $6.50 and a 1 year high of $11.99.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.36. The firm had revenue of $329.99 million for the quarter, compared to analyst estimates of $324.66 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. Sell-side analysts anticipate that RLJ Lodging Trust will post 1.37 EPS for the current year.

RLJ Lodging Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 8.79%. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently 222.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RLJ shares. Wells Fargo & Company lowered their price objective on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating for the company in a report on Tuesday, February 18th. StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Truist Financial cut RLJ Lodging Trust from a “buy” rating to a “hold” rating and reduced their price objective for the company from $11.00 to $10.00 in a research note on Friday, March 21st. Finally, KeyCorp lowered their target price on RLJ Lodging Trust from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, RLJ Lodging Trust currently has a consensus rating of “Hold” and a consensus target price of $10.82.

Insider Transactions at RLJ Lodging Trust

In other news, Director Patricia L. Gibson bought 10,000 shares of the stock in a transaction dated Friday, March 28th. The stock was bought at an average price of $8.03 per share, for a total transaction of $80,300.00. Following the purchase, the director now directly owns 124,217 shares in the company, valued at $997,462.51. This trade represents a 8.76 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

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.