RLJ Lodging Trust (NYSE:RLJ) Sees Significant Increase in Short Interest

RLJ Lodging Trust (NYSE:RLJ) was the target of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 12,871,779 shares, a growth of 21.0% from the January 15th total of 10,638,398 shares. Approximately 8.8% of the shares of the stock are sold short. Based on an average trading volume of 1,648,614 shares, the days-to-cover ratio is presently 7.8 days. Based on an average trading volume of 1,648,614 shares, the days-to-cover ratio is presently 7.8 days. Approximately 8.8% of the shares of the stock are sold short.

RLJ Lodging Trust Trading Up 0.3%

Shares of RLJ opened at $8.32 on Thursday. RLJ Lodging Trust has a fifty-two week low of $6.16 and a fifty-two week high of $9.71. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 166.30 and a beta of 1.12. The firm has a 50 day moving average price of $7.74 and a 200-day moving average price of $7.46. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.55 and a current ratio of 2.55.

RLJ Lodging Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 7.2%. The ex-dividend date was Wednesday, December 31st. RLJ Lodging Trust’s dividend payout ratio is presently 1,200.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays initiated coverage on shares of RLJ Lodging Trust in a research report on Tuesday, January 6th. They set an “underweight” rating and a $6.00 target price for the company. Weiss Ratings restated a “sell (d)” rating on shares of RLJ Lodging Trust in a research report on Monday, December 29th. Raymond James Financial raised shares of RLJ Lodging Trust from a “market perform” rating to a “strong-buy” rating and set a $9.00 price objective for the company in a report on Wednesday, November 12th. Finally, Zacks Research upgraded shares of RLJ Lodging Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, RLJ Lodging Trust currently has an average rating of “Hold” and a consensus target price of $8.64.

Insider Buying and Selling at RLJ Lodging Trust

In other news, Director Robin Mcbride Zeigler sold 13,413 shares of RLJ Lodging Trust stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $7.51, for a total transaction of $100,731.63. Following the completion of the sale, the director owned 37,159 shares in the company, valued at approximately $279,064.09. This trade represents a 26.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in RLJ Lodging Trust by 2,721.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 3,347 shares during the period. Daytona Street Capital LLC purchased a new position in RLJ Lodging Trust in the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. lifted its position in RLJ Lodging Trust by 166.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 2,887 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in RLJ Lodging Trust in the third quarter valued at approximately $36,000. Finally, KBC Group NV boosted its stake in shares of RLJ Lodging Trust by 55.2% during the second quarter. KBC Group NV now owns 5,258 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,870 shares during the period. Hedge funds and other institutional investors own 92.35% of the company’s stock.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.