Bank of New York Mellon Corp lifted its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 17.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,410,459 shares of the real estate investment trust’s stock after purchasing an additional 210,738 shares during the quarter. Bank of New York Mellon Corp owned 1.13% of RLJ Lodging Trust worth $31,030,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of RLJ Lodging Trust during the second quarter worth approximately $214,000. Denver Investment Advisors LLC raised its position in RLJ Lodging Trust by 0.9% in the 2nd quarter. Denver Investment Advisors LLC now owns 11,000 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 100 shares during the last quarter. Daiwa Securities Group Inc. raised its position in RLJ Lodging Trust by 13.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 11,200 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 1,300 shares during the last quarter. Utah Retirement Systems raised its position in RLJ Lodging Trust by 2.6% in the 2nd quarter. Utah Retirement Systems now owns 11,707 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 300 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in RLJ Lodging Trust in the 3rd quarter valued at $262,000. 95.22% of the stock is currently owned by institutional investors.
A number of research firms recently commented on RLJ. Zacks Investment Research lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, December 6th. ValuEngine raised RLJ Lodging Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet lowered RLJ Lodging Trust from a “b-” rating to a “c+” rating in a research report on Wednesday, November 8th. Robert W. Baird set a $23.00 price target on RLJ Lodging Trust and gave the company a “hold” rating in a research report on Sunday, October 29th. Finally, SunTrust Banks began coverage on RLJ Lodging Trust in a research report on Thursday, October 19th. They issued a “hold” rating and a $22.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. RLJ Lodging Trust currently has a consensus rating of “Hold” and a consensus target price of $24.00.
Shares of RLJ Lodging Trust (NYSE:RLJ) traded down $0.29 during trading hours on Monday, reaching $21.45. The company’s stock had a trading volume of 2,060,600 shares, compared to its average volume of 1,541,343. The company has a market cap of $3,751.82, a P/E ratio of 8.79, a PEG ratio of 1.89 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.06 and a quick ratio of 2.06. RLJ Lodging Trust has a 52-week low of $19.12 and a 52-week high of $25.10.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The firm had revenue of $341.26 million during the quarter, compared to the consensus estimate of $347.74 million. RLJ Lodging Trust had a return on equity of 5.80% and a net margin of 12.30%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. sell-side analysts forecast that RLJ Lodging Trust will post 2.27 EPS for the current year.
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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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