LSV Asset Management has $16.37 million position in RLJ Lodging Trust (NYSE:RLJ)

VaselineSeptember 11, 2024

0 4 minutes read

LSV Asset Management boosted its holdings in RLJ Lodging Trust (NYSE:RLJ – Free Report) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,699,595 shares of the real estate investment trust’s stock after buying an additional 152,395 shares during the period. LSV Asset Management owned about 1.09% of RLJ Lodging Trust worth $16,367,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RLJ. Allspring Global Investments Holdings LLC boosted its stake in RLJ Lodging Trust by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust’s stock worth $141,000 after acquiring an additional 1,229 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of RLJ Lodging Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 27,568 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 1,903 shares during the period. Vert Asset Management LLC boosted its holdings in shares of RLJ Lodging Trust by 3.2% in the first quarter. Vert Asset Management LLC now owns 64,665 shares of the real estate investment trust’s stock worth $764,000 after buying an additional 2,015 shares during the period. Price T Rowe Associates Inc. MD raised its stake in RLJ Lodging Trust by 2.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 107,116 shares of the real estate investment trust’s stock valued at $1,267,000 after buying an additional 2,071 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in RLJ Lodging Trust by 32.3% in the first quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 3,052 shares during the period. Hedge funds and other institutional investors own 92.35% of the company’s shares.

RLJ Lodging Trust price performance

NYSE RLJ opened at $8.88 on Wednesday. RLJ Lodging Trust has a fifty-two week low of $8.80 and a fifty-two week high of $12.39. The stock’s 50-day moving average is $9.34, and its two-hundred-day moving average is $10.32. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60, and a quick ratio of 2.60. The firm has a market cap of $1.38 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 0.86 and a beta of 1.70.

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RLJ Lodging Trust (NYSE:RLJ – Get Your Free Report ) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.25). RLJ Lodging Trust had a net margin of 4.93% and a return on equity of 3.34%. The company had revenue of $369.30 million for the quarter, compared to the consensus estimate of $365.67 million. In the same quarter last year, the company earned $0.56 per share. RLJ Lodging Trust’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts anticipate that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

RLJ Lodging Trust increases dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.15 per share. This is a positive change from RLJ Lodging Trust’s previous quarterly dividend of $0.10. This represents an annualized dividend of $0.60 and a yield of 6.76%. The ex-dividend date is Monday, September 30. RLJ Lodging Trust’s dividend payout ratio (DPR) is 142.86%.

Analyst upgrades and downgrades

Several research firms have recently commented on RLJ. StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Friday, August 30th. Bank of America decreased their price objective on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, July 22nd. Compass Point cut RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $10.00 in a report on Monday, 5 August. Finally, Robert W. Baird decreased their price objective on RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Tuesday, 11 June. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $12.69, according to MarketBeat.

See RLJ Lodging Trust’s latest stock report

RLJ Lodging Trust Profile

(Free Report)

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that primarily owns high-margin premium brand hotels with focused services 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 an unconsolidated hotel with 171 rooms.