Martingale Asset Management L P Reduces Stock Holdings in RLJ Lodging Trust (NYSE:RLJ)

Martingale Asset Management L P cut its position in RLJ Lodging Trust (NYSE:RLJ - Free Report) by 51.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,061 shares of the real estate investment trust's stock after selling 63,283 shares during the quarter. Martingale Asset Management L P's holdings in RLJ Lodging Trust were worth $551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RLJ. Quarry LP lifted its holdings in shares of RLJ Lodging Trust by 197.3% during the second quarter. Quarry LP now owns 5,465 shares of the real estate investment trust's stock worth $53,000 after buying an additional 3,627 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in RLJ Lodging Trust by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 1,564 shares in the last quarter. Ground Swell Capital LLC acquired a new position in RLJ Lodging Trust in the third quarter valued at about $93,000. Aigen Investment Management LP acquired a new position in RLJ Lodging Trust in the third quarter valued at about $107,000. Finally, Metis Global Partners LLC raised its stake in RLJ Lodging Trust by 31.0% in the third quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust's stock valued at $145,000 after purchasing an additional 3,738 shares in the last quarter. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Stock Down 0.7 %

RLJ stock traded down $0.08 during midday trading on Wednesday, hitting $10.60. The stock had a trading volume of 1,653,512 shares, compared to its average volume of 1,432,521. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 36.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.72. The business has a 50-day moving average of $9.44 and a two-hundred day moving average of $9.48. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39. 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 released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.23). RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The company had revenue of $345.74 million during the quarter, compared to analysts' expectations of $342.93 million. During the same period in the prior year, the company posted $0.40 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company cut RLJ Lodging Trust from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $11.00 to $9.00 in a research report on Friday, September 13th. Oppenheimer boosted their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Wolfe Research cut RLJ Lodging Trust from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 26th. StockNews.com cut RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Finally, Truist Financial reduced their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a "buy" rating on the stock in a report on Monday, October 28th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, RLJ Lodging Trust currently has a consensus rating of "Hold" and a consensus price target of $11.29.

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.