RLJ Lodging Trust $RLJ Position Increased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. grew its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 10.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,048 shares of the real estate investment trust’s stock after acquiring an additional 6,092 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in RLJ Lodging Trust were worth $529,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. increased its holdings in shares of RLJ Lodging Trust by 0.8% during the first quarter. Asset Management One Co. Ltd. now owns 222,411 shares of the real estate investment trust’s stock valued at $1,755,000 after purchasing an additional 1,762 shares during the period. GF Fund Management CO. LTD. acquired a new position in RLJ Lodging Trust during the 4th quarter valued at about $29,000. Versant Capital Management Inc increased its stake in RLJ Lodging Trust by 402.7% during the 1st quarter. Versant Capital Management Inc now owns 3,675 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 2,944 shares during the period. KBC Group NV bought a new stake in shares of RLJ Lodging Trust during the 1st quarter worth about $27,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of RLJ Lodging Trust by 1.2% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 364,659 shares of the real estate investment trust’s stock worth $2,877,000 after acquiring an additional 4,466 shares during the period. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Trading Down 1.7%

NYSE:RLJ opened at $7.15 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.48 and a current ratio of 2.48. The company has a market capitalization of $1.08 billion, a P/E ratio of 34.05 and a beta of 1.54. The stock’s 50 day moving average price is $7.44 and its 200 day moving average price is $7.85. RLJ Lodging Trust has a 52 week low of $6.16 and a 52 week high of $10.84.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. RLJ Lodging Trust had a return on equity of 3.03% and a net margin of 4.23%. The business had revenue of $363.10 million for the quarter, compared to analyst estimates of $365.30 million. During the same quarter in the prior year, the firm posted $0.51 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, research analysts forecast that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 8.4%. The ex-dividend date of this dividend was Monday, June 30th. RLJ Lodging Trust’s dividend payout ratio is 285.71%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RLJ shares. Wells Fargo & Company boosted their price objective on RLJ Lodging Trust from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st. Oppenheimer dropped their price target on shares of RLJ Lodging Trust from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Truist Financial reduced their price objective on shares of RLJ Lodging Trust from $10.00 to $7.00 and set a “hold” rating for the company in a research report on Monday, June 9th. Finally, Wall Street Zen downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.25.

About RLJ Lodging Trust

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.