Duff & Phelps Investment Management Co. increased its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 49.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,024,468 shares of the real estate investment trust’s stock after buying an additional 666,350 shares during the period. Duff & Phelps Investment Management Co.’s holdings in RLJ Lodging Trust were worth $40,226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its position in RLJ Lodging Trust by 385.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,657 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 3,697 shares during the last quarter. James Investment Research Inc. bought a new position in RLJ Lodging Trust during the first quarter worth about $144,000. SG Americas Securities LLC increased its position in 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 worth $196,000 after buying an additional 615 shares during the last quarter. Paragon Capital Management Ltd bought a new position in RLJ Lodging Trust during the second quarter worth about $208,000. Finally, Daiwa Securities Group Inc. increased its position in RLJ Lodging Trust by 13.1% in the second quarter. Daiwa Securities Group Inc. now owns 11,200 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 1,300 shares during the last quarter. Institutional investors own 99.94% of the company’s stock.

RLJ Lodging Trust (NYSE:RLJ) opened at 19.89 on Friday. The firm has a market cap of $2.46 billion, a P/E ratio of 13.72 and a beta of 1.16. RLJ Lodging Trust has a 12-month low of $18.92 and a 12-month high of $25.10. The firm’s 50-day moving average is $20.39 and its 200 day moving average is $21.79.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The business had revenue of $292.28 million for the quarter, compared to analysts’ expectations of $293.16 million. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.16%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. Equities analysts forecast that RLJ Lodging Trust will post $1.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.64%. The ex-dividend date was Wednesday, June 28th. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 91.03%.

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RLJ has been the topic of a number of research reports. Janney Montgomery Scott reiterated a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of RLJ Lodging Trust in a research report on Monday, June 5th. ValuEngine downgraded shares of RLJ Lodging Trust from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $25.00 target price on shares of RLJ Lodging Trust in a research report on Friday, August 4th. Canaccord Genuity reiterated a “hold” rating and set a $21.00 target price on shares of RLJ Lodging Trust in a research report on Monday, August 7th. Finally, Boenning Scattergood set a $20.00 target price on shares of RLJ Lodging Trust and gave the company a “sell” rating in a research report on Monday, August 7th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. RLJ Lodging Trust currently has a consensus rating of “Hold” and an average target price of $24.71.

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.

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

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