Resona Asset Management Co. Ltd. Buys Shares of 59,956 RLJ Lodging Trust (NYSE:RLJ)

Resona Asset Management Co. Ltd. bought a new position in RLJ Lodging Trust (NYSE:RLJ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,956 shares of the real estate investment trust's stock, valued at approximately $609,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of RLJ Lodging Trust by 0.5% in the 4th quarter. Rhumbline Advisers now owns 282,846 shares of the real estate investment trust's stock worth $2,888,000 after purchasing an additional 1,320 shares during the last quarter. US Bancorp DE increased its position in RLJ Lodging Trust by 78.2% in the fourth quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust's stock worth $33,000 after buying an additional 1,417 shares during the period. Public Employees Retirement System of Ohio lifted its stake in RLJ Lodging Trust by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 389,527 shares of the real estate investment trust's stock valued at $3,576,000 after buying an additional 1,634 shares during the last quarter. Metis Global Partners LLC boosted its holdings 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 valued at $180,000 after acquiring an additional 1,796 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of RLJ Lodging Trust by 1.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 192,700 shares of the real estate investment trust's stock worth $1,769,000 after acquiring an additional 2,500 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

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RLJ Lodging Trust Price Performance

RLJ traded up $0.06 during trading on Tuesday, reaching $6.88. The stock had a trading volume of 1,493,089 shares, compared to its average volume of 1,742,039. The stock has a 50 day moving average of $8.61 and a two-hundred day moving average of $9.36. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth 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 $11.67.

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

RLJ Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 8.72%. The ex-dividend date of this dividend is Monday, March 31st. RLJ Lodging Trust's payout ratio is 222.22%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research report on Tuesday, April 8th. Truist Financial downgraded RLJ Lodging Trust from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $11.00 to $10.00 in a research report on Friday, March 21st. Wells Fargo & Company lowered their target price on RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a research report on Tuesday, February 18th. Finally, KeyCorp reduced their price target on 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. Three equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $10.82.

Insiders Place Their Bets

In related news, Director Patricia L. Gibson bought 10,000 shares of the business's stock in a transaction dated Friday, March 28th. The shares were bought at an average cost 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 of the company's stock, valued at approximately $997,462.51. This trade represents a 8.76 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by company insiders.

About RLJ Lodging Trust

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.