ExodusPoint Capital Management LP Has $13.83 Million Position in RLJ Lodging Trust (NYSE:RLJ)

ExodusPoint Capital Management LP raised its position in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 27.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,354,062 shares of the real estate investment trust's stock after purchasing an additional 294,773 shares during the period. ExodusPoint Capital Management LP owned 0.88% of RLJ Lodging Trust worth $13,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RLJ. State Street Corp boosted its position in shares of RLJ Lodging Trust by 4.8% during 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 during the period. JPMorgan Chase & Co. grew its stake in shares of RLJ Lodging Trust by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust's stock worth $47,429,000 after purchasing an additional 240,254 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of RLJ Lodging Trust by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,930,177 shares of the real estate investment trust's stock valued at $36,085,000 after purchasing an additional 44,121 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of RLJ Lodging Trust by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,690,945 shares of the real estate investment trust's stock valued at $37,685,000 after purchasing an additional 98,673 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in RLJ Lodging Trust by 7.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,331,818 shares of the real estate investment trust's stock worth $34,018,000 after purchasing an additional 232,393 shares during the period. Institutional investors own 92.35% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of research firms have commented on RLJ. Wells Fargo & Company dropped their price target on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial lowered RLJ Lodging Trust from a "buy" rating to a "hold" rating and decreased their price target for the company from $11.00 to $10.00 in a research note on Friday, March 21st. StockNews.com downgraded RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research note on Tuesday. Finally, KeyCorp decreased 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. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $10.82.

Insider Buying and Selling

In other RLJ Lodging Trust news, Director Patricia L. Gibson bought 10,000 shares of RLJ Lodging Trust 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 completion of the acquisition, the director now directly owns 124,217 shares of the company's stock, valued at approximately $997,462.51. This trade represents a 8.76 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company's stock.

RLJ Lodging Trust Price Performance

Shares of NYSE RLJ traded up $1.06 during mid-day trading on Wednesday, reaching $7.41. The company had a trading volume of 5,253,020 shares, compared to its average volume of 1,718,845. The company has a 50-day moving average price of $8.78 and a two-hundred day moving average price of $9.42. The stock has a market cap of $1.12 billion, a PE ratio of 25.55, a P/E/G ratio of 2.87 and a beta of 1.51. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. RLJ Lodging Trust has a 1-year low of $6.16 and a 1-year high of $11.83.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last issued its quarterly earnings results 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. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The firm had revenue of $329.99 million for the quarter, compared to analysts' expectations of $324.66 million. On average, equities analysts anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 8.10%. The ex-dividend date of this dividend is Monday, March 31st. RLJ Lodging Trust's dividend payout ratio is 222.22%.

RLJ Lodging Trust 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.