Martingale Asset Management L P Cuts Position in RLJ Lodging Trust (NYSE:RLJ)

Martingale Asset Management L P cut its holdings in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 78.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,145 shares of the real estate investment trust's stock after selling 46,916 shares during the quarter. Martingale Asset Management L P's holdings in RLJ Lodging Trust were worth $134,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of RLJ. Barclays PLC grew its position in RLJ Lodging Trust by 97.4% in the third quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust's stock worth $2,495,000 after acquiring an additional 134,093 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of RLJ Lodging Trust by 7.5% during 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 last quarter. Sanctuary Advisors LLC acquired a new position in shares of RLJ Lodging Trust during the 4th quarter valued at about $277,000. JPMorgan Chase & Co. raised its holdings in shares of RLJ Lodging Trust by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust's stock valued at $47,429,000 after buying an additional 240,254 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of RLJ Lodging Trust during the 4th quarter worth $355,000. Institutional investors own 92.35% of the company's stock.

Insider Buying and Selling at RLJ Lodging Trust

In other RLJ Lodging Trust news, Director Patricia L. Gibson purchased 10,000 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was purchased 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 approximately $997,462.51. This trade represents a 8.76 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on RLJ shares. Truist Financial lowered shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and dropped their price target for the stock from $11.00 to $10.00 in a research report on Friday, March 21st. StockNews.com upgraded shares of RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research note on Friday. KeyCorp reduced their price objective on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Finally, Wells Fargo & Company dropped their target price 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, RLJ Lodging Trust has a consensus rating of "Hold" and an average target price of $10.82.

RLJ Lodging Trust Price Performance

Shares of NYSE RLJ traded up $0.17 during mid-day trading on Friday, hitting $6.93. 3,337,455 shares of the company's stock traded hands, compared to its average volume of 1,768,274. The company's 50-day moving average is $8.39 and its two-hundred day moving average is $9.29. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market capitalization of $1.05 billion, a P/E ratio of 23.88, a PEG ratio of 2.87 and a beta of 1.51. RLJ Lodging Trust has a 1 year low of $6.16 and a 1 year high of $11.48.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) 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. 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 during the quarter, compared to analysts' expectations of $324.66 million. On average, equities analysts anticipate that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.15 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 8.66%. RLJ Lodging Trust's dividend payout ratio is currently 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.