RLJ Lodging Trust (NYSE:RLJ - Get Free Report) saw an uptick in trading volume on Monday after an insider bought additional shares in the company. 3,262,402 shares traded hands during trading, an increase of 103% from the previous session's volume of 1,610,286 shares.The stock last traded at $7.89 and had previously closed at $7.87.
Specifically, Director Patricia L. Gibson purchased 10,000 shares of the 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 acquisition, the director now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Analysts Set New Price Targets
RLJ has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased 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. Truist Financial cut shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and decreased their price objective for the company from $11.00 to $10.00 in a report on Friday, March 21st. KeyCorp dropped their target price on RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, StockNews.com raised RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.82.
Read Our Latest Report on RLJ Lodging Trust
RLJ Lodging Trust Trading Down 4.0 %
The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.87 and a beta of 1.69. The company has a fifty day simple moving average of $9.09 and a 200-day simple moving average of $9.51.
RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last issued its quarterly 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 business had revenue of $329.99 million during the quarter, compared to the consensus estimate of $324.66 million. On average, research analysts forecast that RLJ Lodging Trust will post 1.37 earnings per share for the current fiscal year.
RLJ Lodging Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.79%. RLJ Lodging Trust's dividend payout ratio is 222.22%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of RLJ. GF Fund Management CO. LTD. purchased a new position in RLJ Lodging Trust during the 4th quarter valued at about $29,000. Versant Capital Management Inc grew its position in RLJ Lodging Trust by 402.7% during the first quarter. Versant Capital Management Inc now owns 3,675 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 2,944 shares in the last quarter. US Bancorp DE grew its position in RLJ Lodging Trust by 78.2% during the fourth 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. CreativeOne Wealth LLC acquired a new position in RLJ Lodging Trust in the 4th quarter valued at approximately $111,000. Finally, Xponance Inc. purchased a new stake in RLJ Lodging Trust in the 4th quarter worth approximately $112,000. 92.35% of the stock is owned by institutional investors and hedge funds.
About RLJ Lodging Trust
(
Get Free Report)
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.
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