Arrow Investment Advisors LLC Buys Shares of 28,600 RLJ Lodging Trust (RLJ)
Arrow Investment Advisors LLC bought a new position in RLJ Lodging Trust (NYSE:RLJ) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 28,600 shares of the real estate investment trust’s stock, valued at approximately $568,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RLJ. BlackRock Inc. lifted its stake in RLJ Lodging Trust by 4,829.7% in the 1st quarter. BlackRock Inc. now owns 11,399,528 shares of the real estate investment trust’s stock worth $268,005,000 after purchasing an additional 11,168,284 shares in the last quarter. AJO LP lifted its stake in RLJ Lodging Trust by 108.8% in the 2nd quarter. AJO LP now owns 3,814,317 shares of the real estate investment trust’s stock worth $75,790,000 after purchasing an additional 1,987,760 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in RLJ Lodging Trust by 51.5% in the 1st quarter. Bank of New York Mellon Corp now owns 2,944,846 shares of the real estate investment trust’s stock worth $69,233,000 after purchasing an additional 1,001,632 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its stake in RLJ Lodging Trust by 49.1% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 2,024,468 shares of the real estate investment trust’s stock worth $40,226,000 after purchasing an additional 666,350 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in RLJ Lodging Trust by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 19,784,076 shares of the real estate investment trust’s stock worth $465,123,000 after purchasing an additional 491,109 shares in the last quarter.
Several research firms have issued reports on RLJ. Deutsche Bank AG began coverage on shares of RLJ Lodging Trust in a research note on Tuesday. They issued a “hold” rating and a $22.00 target price on the stock. Canaccord Genuity upgraded shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and increased their target price for the stock from $21.00 to $23.00 in a research note on Friday, September 8th. Wells Fargo & Company raised shares of RLJ Lodging Trust from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a report on Tuesday, September 5th. ValuEngine lowered shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub lowered shares of RLJ Lodging Trust from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.20.
Shares of RLJ Lodging Trust (NYSE:RLJ) traded down 1.15% during trading on Tuesday, hitting $21.57. 458,415 shares of the stock were exchanged. The stock has a market cap of $2.67 billion, a PE ratio of 14.88 and a beta of 1.17. RLJ Lodging Trust has a 52-week low of $18.92 and a 52-week high of $25.10. The firm has a 50 day moving average of $20.40 and a 200-day moving average of $21.21.
RLJ Lodging Trust (NYSE:RLJ) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.16%. The firm had revenue of $292.28 million for the quarter, compared to the consensus estimate of $293.16 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. Equities research analysts anticipate that RLJ Lodging Trust will post $1.02 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, August 30th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Monday, August 28th. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently 60.69%.
In other news, Director Nathaniel A. Davis sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total value of $201,100.00. Following the transaction, the director now owns 72,928 shares of the company’s stock, valued at $1,466,582.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Forgia Robert M. La bought 5,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was bought at an average cost of $19.73 per share, for a total transaction of $98,650.00. Following the acquisition, the director now directly owns 37,528 shares of the company’s stock, valued at approximately $740,427.44. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.
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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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