Norges Bank Acquires New Holdings in RLJ Lodging Trust (NYSE:RLJ)

Norges Bank purchased a new position in RLJ Lodging Trust (NYSE:RLJ - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 531,417 shares of the real estate investment trust's stock, valued at approximately $5,426,000. Norges Bank owned 0.35% of RLJ Lodging Trust as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of RLJ. US Bancorp DE raised its stake in shares of RLJ Lodging Trust by 78.2% in the 4th quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,417 shares in the last quarter. Xponance Inc. acquired a new position in RLJ Lodging Trust during the 4th quarter valued at approximately $112,000. EntryPoint Capital LLC lifted its stake in RLJ Lodging Trust by 23.8% in the fourth quarter. EntryPoint Capital LLC now owns 13,659 shares of the real estate investment trust's stock valued at $139,000 after buying an additional 2,624 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of RLJ Lodging Trust during the fourth quarter valued at $146,000. Finally, Metis Global Partners LLC grew its position in shares of RLJ Lodging Trust by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 17,594 shares of the real estate investment trust's stock worth $180,000 after acquiring an additional 1,796 shares during the last quarter. Institutional investors and hedge funds own 92.35% of the company's stock.

Insider Transactions at RLJ Lodging Trust

In other news, Director Patricia L. Gibson bought 10,000 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was acquired at an average price of $8.03 per share, for a total transaction 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 trade represents a 8.76 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by insiders.

Remove Ads

Wall Street Analyst Weigh In

Several brokerages have weighed in on RLJ. KeyCorp cut their target price on RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. StockNews.com cut shares of RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. Truist Financial lowered shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and decreased their target price for the company from $11.00 to $10.00 in a research report on Friday, March 21st. Finally, Wells Fargo & Company lowered their target price on shares of 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. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.82.

RLJ Lodging Trust Stock Performance

Shares of NYSE:RLJ traded down $0.04 during midday trading on Tuesday, hitting $6.78. The company's stock had a trading volume of 187,005 shares, compared to its average volume of 2,313,208. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74. The stock's 50 day simple moving average is $8.61 and its 200 day simple moving average is $9.36. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.87 and a beta of 1.51. RLJ Lodging Trust has a fifty-two week low of $6.16 and a fifty-two week high of $11.48.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.36. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm had revenue of $329.99 million during the quarter, compared to analysts' expectations of $324.66 million. As a group, research analysts anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 8.85%. 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.