State Street Corp Buys 340,271 Shares of RLJ Lodging Trust (NYSE:RLJ)

State Street Corp grew its holdings in RLJ Lodging Trust (NYSE:RLJ - Free Report) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,397,290 shares of the real estate investment trust's stock after acquiring an additional 340,271 shares during the quarter. State Street Corp owned 4.83% of RLJ Lodging Trust worth $68,999,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Donald Smith & CO. Inc. increased its stake in RLJ Lodging Trust by 46.6% during the 3rd quarter. Donald Smith & CO. Inc. now owns 4,855,122 shares of the real estate investment trust's stock worth $44,570,000 after purchasing an additional 1,543,848 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of RLJ Lodging Trust by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust's stock worth $32,977,000 after acquiring an additional 170,484 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of RLJ Lodging Trust by 25.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,991,625 shares of the real estate investment trust's stock worth $18,283,000 after acquiring an additional 400,100 shares during the period. LSV Asset Management raised its holdings in shares of RLJ Lodging Trust by 9.8% during the second quarter. LSV Asset Management now owns 1,699,595 shares of the real estate investment trust's stock worth $16,367,000 after acquiring an additional 152,395 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in RLJ Lodging Trust by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 980,894 shares of the real estate investment trust's stock valued at $9,446,000 after acquiring an additional 51,981 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on RLJ. Truist Financial dropped their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a "buy" rating on the stock in a research note on Monday, October 28th. StockNews.com raised RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. Wolfe Research downgraded RLJ Lodging Trust from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. Oppenheimer raised their price target on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company boosted their price objective on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an "underweight" rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, RLJ Lodging Trust currently has an average rating of "Hold" and a consensus price target of $11.50.

RLJ Lodging Trust Stock Down 5.2 %

Shares of RLJ Lodging Trust stock traded down $0.55 on Wednesday, reaching $10.03. 2,637,475 shares of the company were exchanged, compared to its average volume of 1,441,708. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.31 and a beta of 1.72. 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 one year low of $8.74 and a one year high of $12.39. The company has a 50-day moving average of $9.68 and a 200 day moving average of $9.52.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its quarterly 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). The firm had revenue of $345.74 million for the quarter, compared to the consensus estimate of $342.93 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The business's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. On average, equities research analysts forecast that RLJ Lodging Trust will post 1.34 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend is Tuesday, December 31st. RLJ Lodging Trust's dividend payout ratio (DPR) is presently 206.90%.

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.