Victory Capital Management Inc. Has $176,000 Stock Position in RLJ Lodging Trust (NYSE:RLJ)

Victory Capital Management Inc. cut its holdings in shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) by 85.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,119 shares of the real estate investment trust's stock after selling 111,823 shares during the period. Victory Capital Management Inc.'s holdings in RLJ Lodging Trust were worth $176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RLJ. Quarry LP increased its stake in shares of RLJ Lodging Trust by 197.3% in the second quarter. Quarry LP now owns 5,465 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 3,627 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in RLJ Lodging Trust by 34.9% during the 3rd 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 acquiring an additional 1,564 shares in the last quarter. Ground Swell Capital LLC acquired a new position in RLJ Lodging Trust during the 3rd quarter worth $93,000. Aigen Investment Management LP bought a new position in shares of RLJ Lodging Trust in the third quarter worth $107,000. Finally, Lazard Asset Management LLC increased its holdings in shares of RLJ Lodging Trust by 32.3% during the first quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust's stock valued at $147,000 after purchasing an additional 3,052 shares during the period. 92.35% of the stock is owned by hedge funds and other institutional investors.

RLJ Lodging Trust Trading Up 0.7 %

RLJ stock traded up $0.07 during mid-day trading on Friday, reaching $10.21. 1,010,153 shares of the stock traded hands, compared to its average volume of 1,759,690. The stock's fifty day moving average is $9.42 and its 200-day moving average is $9.49. The company has a market cap of $1.57 billion, a P/E ratio of 35.21, a P/E/G ratio of 2.27 and a beta of 1.70. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.23). RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm had revenue of $345.74 million for the quarter, compared to analyst estimates of $342.93 million. During the same period last year, the firm earned $0.40 earnings per share. RLJ Lodging Trust's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that RLJ Lodging Trust will post 1.34 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company downgraded shares of RLJ Lodging Trust from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $11.00 to $9.00 in a report on Friday, September 13th. StockNews.com cut shares of RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Oppenheimer increased their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Compass Point downgraded RLJ Lodging Trust from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $18.00 to $10.00 in a research note on Monday, August 5th. Finally, Truist Financial decreased their target price on RLJ Lodging Trust from $14.00 to $11.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, RLJ Lodging Trust currently has a consensus rating of "Hold" and an average price target of $11.29.

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.