York Capital Management Global Advisors LLC increased its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 67.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 637,768 shares of the real estate investment trust’s stock after buying an additional 255,871 shares during the quarter. York Capital Management Global Advisors LLC’s holdings in RLJ Lodging Trust were worth $14,012,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Allianz Asset Management GmbH increased its holdings in RLJ Lodging Trust by 111.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 628,717 shares of the real estate investment trust’s stock worth $13,833,000 after purchasing an additional 330,962 shares in the last quarter. American International Group Inc. increased its position in RLJ Lodging Trust by 49.1% in the third quarter. American International Group Inc. now owns 113,796 shares of the real estate investment trust’s stock worth $2,504,000 after buying an additional 37,459 shares during the last quarter. Cedar Capital LLC purchased a new stake in RLJ Lodging Trust in the third quarter worth $2,794,000. Sei Investments Co. increased its position in RLJ Lodging Trust by 14.9% in the fourth quarter. Sei Investments Co. now owns 656,452 shares of the real estate investment trust’s stock worth $14,423,000 after buying an additional 85,114 shares during the last quarter. Finally, Land & Buildings Investment Management LLC purchased a new position in shares of RLJ Lodging Trust in the third quarter valued at $77,072,000.
Several brokerages have recently weighed in on RLJ. Barclays reduced their price target on RLJ Lodging Trust from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, March 7th. Zacks Investment Research upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. SunTrust Banks reiterated a “hold” rating on shares of RLJ Lodging Trust in a research report on Friday, March 2nd. Robert W. Baird set a $22.00 price target on RLJ Lodging Trust and gave the company a “hold” rating in a research report on Thursday, March 1st. Finally, Boenning Scattergood set a $20.00 price target on RLJ Lodging Trust and gave the company a “sell” rating in a research report on Thursday, March 1st. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.27.
RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The company had revenue of $462.49 million during the quarter, compared to analyst estimates of $442.14 million. RLJ Lodging Trust had a return on equity of 2.77% and a net margin of 5.52%. equities analysts predict that RLJ Lodging Trust will post 2.38 earnings per share 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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