Fisher Asset Management LLC Has $23.30 Million Position in RLJ Lodging Trust $RLJ

Fisher Asset Management LLC boosted its holdings in RLJ Lodging Trust (NYSE:RLJ) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,127,412 shares of the real estate investment trust’s stock after buying an additional 94,291 shares during the quarter. Fisher Asset Management LLC’s holdings in RLJ Lodging Trust were worth $23,299,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RLJ. Denali Advisors LLC acquired a new position in RLJ Lodging Trust in the 3rd quarter valued at approximately $1,432,000. JPMorgan Chase & Co. lifted its holdings in shares of RLJ Lodging Trust by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 5,204,026 shares of the real estate investment trust’s stock worth $37,469,000 after purchasing an additional 226,335 shares during the period. Principal Financial Group Inc. grew its stake in shares of RLJ Lodging Trust by 1,871.5% in the third quarter. Principal Financial Group Inc. now owns 201,603 shares of the real estate investment trust’s stock worth $1,452,000 after purchasing an additional 191,377 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of RLJ Lodging Trust by 22.3% in the third quarter. Allianz Asset Management GmbH now owns 2,201,825 shares of the real estate investment trust’s stock worth $15,853,000 after purchasing an additional 401,189 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in RLJ Lodging Trust by 363.1% in the third quarter. Tudor Investment Corp ET AL now owns 357,266 shares of the real estate investment trust’s stock valued at $2,572,000 after purchasing an additional 280,123 shares during the period. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Trading Up 2.8%

RLJ opened at $9.85 on Wednesday. RLJ Lodging Trust has a twelve month low of $6.54 and a twelve month high of $9.88. The company has a fifty day moving average of $8.21 and a 200-day moving average of $7.87. The stock has a market cap of $1.50 billion, a PE ratio of -985.00 and a beta of 1.08. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.22.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The business had revenue of $339.98 million for the quarter, compared to analysts’ expectations of $323.51 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts predict that RLJ Lodging Trust will post 1.22 EPS for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 6.1%. RLJ Lodging Trust’s dividend payout ratio is presently -6,000.00%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. LADENBURG THALM/SH SH started coverage on RLJ Lodging Trust in a research report on Thursday, March 26th. They set a “neutral” rating and a $8.50 target price for the company. Truist Financial decreased their price target on RLJ Lodging Trust from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Wall Street Zen upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.50.

RLJ Lodging Trust Profile

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.