Cubist Systematic Strategies LLC Trims Stock Holdings in RLJ Lodging Trust (NYSE:RLJ)

Cubist Systematic Strategies LLC cut its position in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 86.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,913 shares of the real estate investment trust's stock after selling 174,463 shares during the quarter. Cubist Systematic Strategies LLC's holdings in RLJ Lodging Trust were worth $269,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Quarry LP increased its position 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 during the period. Algert Global LLC increased its position in shares of RLJ Lodging Trust by 7.3% during the second quarter. Algert Global LLC now owns 245,999 shares of the real estate investment trust's stock worth $2,369,000 after buying an additional 16,832 shares during the period. Lighthouse Investment Partners LLC increased its position in shares of RLJ Lodging Trust by 50.9% during the second quarter. Lighthouse Investment Partners LLC now owns 860,000 shares of the real estate investment trust's stock worth $8,282,000 after buying an additional 290,000 shares during the period. AQR Capital Management LLC increased its position in shares of RLJ Lodging Trust by 9.1% during the second quarter. AQR Capital Management LLC now owns 571,240 shares of the real estate investment trust's stock worth $5,501,000 after buying an additional 47,475 shares during the period. Finally, Sei Investments Co. grew its holdings in RLJ Lodging Trust by 23.8% in the second quarter. Sei Investments Co. now owns 393,842 shares of the real estate investment trust's stock worth $3,793,000 after purchasing an additional 75,654 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.

RLJ Lodging Trust Stock Up 0.4 %

Shares of RLJ traded up $0.04 during trading hours on Tuesday, reaching $9.19. 2,309,298 shares of the stock traded hands, compared to its average volume of 1,385,038. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $9.28 and a 200 day simple moving average of $9.89. RLJ Lodging Trust has a 52 week low of $8.79 and a 52 week high of $12.39. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 0.87 and a beta of 1.69.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.25). RLJ Lodging Trust had a net margin of 4.93% and a return on equity of 3.34%. The firm had revenue of $369.30 million for the quarter, compared to the consensus estimate of $365.67 million. During the same period in the previous year, the business earned $0.56 earnings per share. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts forecast that RLJ Lodging Trust will post 1.34 EPS for the current year.

RLJ Lodging Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date is Monday, September 30th. This is an increase from RLJ Lodging Trust's previous quarterly dividend of $0.10. RLJ Lodging Trust's dividend payout ratio (DPR) is 230.78%.

Analysts Set New Price Targets

RLJ has been the subject of a number of research reports. Wolfe Research cut shares of RLJ Lodging Trust from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 26th. Wells Fargo & Company cut shares of RLJ Lodging Trust from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $11.00 to $9.00 in a report on Friday, September 13th. Bank of America reduced their price target on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an "underperform" rating for the company in a report on Monday, July 22nd. StockNews.com upgraded shares of RLJ Lodging Trust from a "sell" rating to a "hold" rating in a report on Friday. Finally, Compass Point cut shares of RLJ Lodging Trust from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $18.00 to $10.00 in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.14.

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.