Quantinno Capital Management LP Buys 70,834 Shares of RLJ Lodging Trust $RLJ

Quantinno Capital Management LP boosted its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 123.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,442 shares of the real estate investment trust’s stock after purchasing an additional 70,834 shares during the period. Quantinno Capital Management LP owned about 0.08% of RLJ Lodging Trust worth $953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of RLJ Lodging Trust by 2,721.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 3,347 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of RLJ Lodging Trust by 166.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 2,887 shares during the period. Danske Bank A S bought a new position in shares of RLJ Lodging Trust during the third quarter worth about $50,000. Los Angeles Capital Management LLC bought a new position in shares of RLJ Lodging Trust during the fourth quarter worth about $51,000. Finally, Focus Partners Wealth acquired a new stake in RLJ Lodging Trust in the 3rd quarter valued at approximately $73,000. Institutional investors and hedge funds own 92.35% of the company’s stock.

Wall Street Analyst Weigh In

RLJ has been the topic of several research reports. Barclays boosted their target price on RLJ Lodging Trust from $9.00 to $9.50 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Raymond James Financial cut shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and raised their price target for the stock from $9.00 to $11.00 in a research note on Thursday, May 28th. Truist Financial lifted their price objective on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the company a “hold” rating in a report on Friday, June 12th. Zacks Research lowered shares of RLJ Lodging Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, UBS Group set a $13.00 target price on shares of RLJ Lodging Trust in a report on Thursday, June 18th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $10.94.

RLJ Lodging Trust Price Performance

NYSE:RLJ opened at $10.99 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 5.71 and a current ratio of 5.71. The stock’s 50-day simple moving average is $11.59 and its 200 day simple moving average is $9.44. The company has a market cap of $1.68 billion, a P/E ratio of 7.63 and a beta of 1.09. RLJ Lodging Trust has a 52-week low of $6.54 and a 52-week high of $12.89.

RLJ Lodging Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Tuesday, June 30th.

RLJ Lodging Trust Company 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.