Canada Pension Plan Investment Board Takes Position in RLJ Lodging Trust (NYSE:RLJ)

Canada Pension Plan Investment Board acquired a new stake in RLJ Lodging Trust (NYSE:RLJ - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 161,800 shares of the real estate investment trust's stock, valued at approximately $1,652,000. Canada Pension Plan Investment Board owned 0.11% of RLJ Lodging Trust at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Donald Smith & CO. Inc. lifted its stake in shares of RLJ Lodging Trust by 18.6% in the 4th quarter. Donald Smith & CO. Inc. now owns 5,756,233 shares of the real estate investment trust's stock valued at $58,771,000 after purchasing an additional 901,111 shares during the period. Norges Bank acquired a new position in RLJ Lodging Trust in the fourth quarter valued at about $5,426,000. Thrivent Financial for Lutherans acquired a new position in RLJ Lodging Trust in the fourth quarter valued at about $4,374,000. Invesco Ltd. boosted its holdings in RLJ Lodging Trust by 46.9% during the fourth quarter. Invesco Ltd. now owns 1,254,239 shares of the real estate investment trust's stock worth $12,806,000 after buying an additional 400,261 shares during the last quarter. Finally, ExodusPoint Capital Management LP grew its position in shares of RLJ Lodging Trust by 27.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 1,354,062 shares of the real estate investment trust's stock worth $13,825,000 after buying an additional 294,773 shares during the period. 92.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other RLJ Lodging Trust news, Director Patricia L. Gibson purchased 10,000 shares of the business's stock in a transaction on Friday, March 28th. The shares were purchased at an average cost of $8.03 per share, with a total value of $80,300.00. Following the transaction, the director now directly owns 124,217 shares of the company's stock, valued at $997,462.51. This represents a 8.76 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RLJ has been the topic of several recent analyst reports. Truist Financial lowered shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $11.00 to $10.00 in a research note on Friday, March 21st. 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 research report on Tuesday, February 18th. StockNews.com upgraded RLJ Lodging Trust from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, KeyCorp lowered their price target on RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $10.82.

RLJ Lodging Trust Stock Up 1.2 %

RLJ stock traded up $0.08 during trading hours on Friday, reaching $7.03. 1,160,696 shares of the stock were exchanged, compared to its average volume of 1,781,559. The firm's 50-day moving average is $8.12 and its 200-day moving average is $9.21. RLJ Lodging Trust has a 12 month low of $6.16 and a 12 month high of $11.27. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 2.87 and a beta of 1.51. 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 (NYSE:RLJ - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.36. The business had revenue of $329.99 million during the quarter, compared to the consensus estimate of $324.66 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.53%. The ex-dividend date was Monday, March 31st. RLJ Lodging Trust's dividend payout ratio is presently 222.22%.

RLJ Lodging Trust Company 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.