RLJ Lodging Trust (NYSE:RLJ) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in RLJ Lodging Trust (NYSE:RLJ - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,815,987 shares of the real estate investment trust's stock after selling 1,350,606 shares during the period. JPMorgan Chase & Co. owned approximately 2.49% of RLJ Lodging Trust worth $38,961,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RLJ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $7,727,000 after buying an additional 628,157 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in RLJ Lodging Trust in the fourth quarter worth $4,374,000. State Street Corp raised its position 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 acquiring an additional 340,271 shares in the last quarter. 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 valued at $34,018,000 after acquiring an additional 232,393 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of RLJ Lodging Trust by 28.0% during the 4th quarter. New York State Common Retirement Fund now owns 985,899 shares of the real estate investment trust's stock worth $10,066,000 after purchasing an additional 215,504 shares in the last quarter. 92.35% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RLJ. StockNews.com downgraded shares of RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Tuesday. Truist Financial cut shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and dropped their target price for the company from $11.00 to $10.00 in a report on Friday, March 21st. Wells Fargo & Company decreased their price target on RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a research note on Tuesday, February 18th. Finally, KeyCorp dropped their price objective 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.82.

RLJ Lodging Trust Price Performance

Shares of RLJ stock traded up $0.11 during trading hours on Friday, hitting $6.89. The company's stock had a trading volume of 3,159,920 shares, compared to its average volume of 1,734,871. 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 twelve month low of $6.16 and a twelve month high of $11.74. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 2.87 and a beta of 1.51. The business has a fifty day moving average of $8.67 and a 200-day moving average of $9.38.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $329.99 million during the quarter, compared to the consensus estimate of $324.66 million. As a group, equities research analysts anticipate that RLJ Lodging Trust will post 1.37 EPS for the current year.

RLJ Lodging Trust Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 8.71%. RLJ Lodging Trust's dividend payout ratio (DPR) is 222.22%.

Insiders Place Their Bets

In other news, Director Patricia L. Gibson acquired 10,000 shares of the business's stock in a transaction dated Friday, March 28th. The stock was acquired at an average price of $8.03 per share, with a total value of $80,300.00. Following the completion of the transaction, the director now directly owns 124,217 shares in the company, valued at approximately $997,462.51. This represents a 8.76 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by corporate insiders.

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.