Palisade Capital Management LLC NJ boosted its stake in RLJ Lodging Trust (NYSE:RLJ) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 571,167 shares of the real estate investment trust’s stock after buying an additional 13,779 shares during the period. Palisade Capital Management LLC NJ’s holdings in RLJ Lodging Trust were worth $11,349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System increased its position in shares of RLJ Lodging Trust by 0.9% in the first quarter. New York State Teachers Retirement System now owns 10,800 shares of the real estate investment trust’s stock valued at $254,000 after buying an additional 100 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of RLJ Lodging Trust by 2.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,913 shares of the real estate investment trust’s stock valued at $468,000 after buying an additional 440 shares during the period. SG Americas Securities LLC increased its position in shares of RLJ Lodging Trust by 8.0% in the first quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 615 shares during the period. Russell Investments Group Ltd. increased its position in shares of RLJ Lodging Trust by 0.3% in the first quarter. Russell Investments Group Ltd. now owns 241,474 shares of the real estate investment trust’s stock valued at $5,677,000 after buying an additional 645 shares during the period. Finally, Boston Private Wealth LLC increased its position in shares of RLJ Lodging Trust by 4.6% in the first quarter. Boston Private Wealth LLC now owns 16,373 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 716 shares during the period. Hedge funds and other institutional investors own 99.94% of the company’s stock.

Shares of RLJ Lodging Trust (NYSE:RLJ) opened at 20.51 on Tuesday. The firm has a 50-day moving average of $20.55 and a 200 day moving average of $21.95. RLJ Lodging Trust has a 52-week low of $18.92 and a 52-week high of $25.10. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 12.98 and a beta of 1.16.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The company had revenue of $292.28 million for the quarter, compared to analyst estimates of $293.16 million. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.17%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. Analysts predict that RLJ Lodging Trust will post $1.03 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.44%. The ex-dividend date was Wednesday, June 28th. RLJ Lodging Trust’s payout ratio is presently 91.03%.

WARNING: “RLJ Lodging Trust (RLJ) Stake Increased by Palisade Capital Management LLC NJ” was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/08/08/rlj-lodging-trust-rlj-stake-increased-by-palisade-capital-management-llc-nj.html.

Several brokerages recently commented on RLJ. Canaccord Genuity reiterated a “hold” rating and issued a $21.00 target price on shares of RLJ Lodging Trust in a report on Monday. Boenning Scattergood set a $20.00 target price on shares of RLJ Lodging Trust and gave the stock a “sell” rating in a report on Monday. Royal Bank Of Canada reiterated a “buy” rating and issued a $25.00 target price on shares of RLJ Lodging Trust in a report on Friday. Zacks Investment Research downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of RLJ Lodging Trust from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 20th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.63.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.

Want to see what other hedge funds are holding RLJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RLJ Lodging Trust (NYSE:RLJ).

Institutional Ownership by Quarter for RLJ Lodging Trust (NYSE:RLJ)

Receive News & Ratings for RLJ Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLJ Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.