885,028 Shares in RLJ Lodging Trust (NYSE:RLJ) Acquired by Invenomic Capital Management LP

Invenomic Capital Management LP purchased a new stake in RLJ Lodging Trust (NYSE:RLJ) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 885,028 shares of the real estate investment trust’s stock, valued at approximately $9,036,000. Invenomic Capital Management LP owned 0.58% of RLJ Lodging Trust as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Barclays PLC raised its position in shares of RLJ Lodging Trust by 97.4% during the third quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust’s stock worth $2,495,000 after acquiring an additional 134,093 shares during the last quarter. Vert Asset Management LLC boosted its stake in shares of RLJ Lodging Trust by 26.5% in the 4th quarter. Vert Asset Management LLC now owns 60,726 shares of the real estate investment trust’s stock valued at $620,000 after purchasing an additional 12,714 shares during the last quarter. abrdn plc increased its position in shares of RLJ Lodging Trust by 30.6% during the fourth quarter. abrdn plc now owns 40,417 shares of the real estate investment trust’s stock worth $416,000 after buying an additional 9,474 shares during the period. Choreo LLC raised its stake in RLJ Lodging Trust by 26.8% during the fourth quarter. Choreo LLC now owns 45,054 shares of the real estate investment trust’s stock worth $464,000 after buying an additional 9,523 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in RLJ Lodging Trust by 44.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,775 shares of the real estate investment trust’s stock valued at $355,000 after buying an additional 10,643 shares during the period. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Trading Up 2.9 %

NYSE:RLJ opened at $7.39 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. RLJ Lodging Trust has a one year low of $6.16 and a one year high of $10.84. The company has a market cap of $1.12 billion, a PE ratio of 25.48, a PEG ratio of 2.87 and a beta of 1.50. The firm has a 50-day moving average of $7.67 and a 200-day moving average of $9.07.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The firm had revenue of $328.12 million during the quarter, compared to analyst estimates of $328.08 million. During the same period in the previous year, the company posted $0.33 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

RLJ Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 8.12%. The ex-dividend date of this dividend was Monday, March 31st. RLJ Lodging Trust’s dividend payout ratio is 222.22%.

Insiders Place Their Bets

In other RLJ Lodging Trust news, Director Patricia L. Gibson bought 10,000 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were purchased at an average price of $8.03 per share, for a total transaction of $80,300.00. Following the purchase, the director now directly owns 124,217 shares of the company’s stock, valued at approximately $997,462.51. This represents a 8.76 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

RLJ has been the subject of a number of recent analyst reports. StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Wednesday. KeyCorp dropped their price target on RLJ Lodging Trust from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Oppenheimer lowered their price objective on shares of RLJ Lodging Trust from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday. Wells Fargo & Company cut their target price on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating on the stock in a research note on Tuesday, February 18th. Finally, Truist Financial downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $11.00 to $10.00 in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, RLJ Lodging Trust currently has an average rating of “Hold” and an average price target of $10.68.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.