Martingale Asset Management L P Trims Stock Holdings in RLJ Lodging Trust (NYSE:RLJ)

Martingale Asset Management L P reduced its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 51.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,061 shares of the real estate investment trust’s stock after selling 63,283 shares during the period. Martingale Asset Management L P’s holdings in RLJ Lodging Trust were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of RLJ Lodging Trust by 294.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 841,753 shares of the real estate investment trust’s stock valued at $7,727,000 after buying an additional 628,157 shares in the last quarter. Cerity Partners LLC raised its holdings in RLJ Lodging Trust by 12.3% during the third quarter. Cerity Partners LLC now owns 55,310 shares of the real estate investment trust’s stock valued at $508,000 after acquiring an additional 6,039 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in RLJ Lodging Trust by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust’s stock valued at $32,977,000 after acquiring an additional 170,484 shares during the period. Intech Investment Management LLC purchased a new position in shares of RLJ Lodging Trust in the third quarter valued at about $406,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of RLJ Lodging Trust by 25.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,991,625 shares of the real estate investment trust’s stock worth $18,283,000 after acquiring an additional 400,100 shares during the period. 92.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RLJ shares. Oppenheimer boosted their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Wolfe Research downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. StockNews.com cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Wells Fargo & Company downgraded shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $11.00 to $9.00 in a report on Friday, September 13th. Finally, Truist Financial dropped their price objective on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, October 28th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, RLJ Lodging Trust presently has a consensus rating of “Hold” and a consensus target price of $11.29.

RLJ Lodging Trust Stock Performance

Shares of NYSE:RLJ opened at $10.67 on Wednesday. The firm has a fifty day simple moving average of $9.43 and a two-hundred day simple moving average of $9.48. RLJ Lodging Trust has a 52 week low of $8.74 and a 52 week high of $12.39. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $1.64 billion, a P/E ratio of 36.79, a PEG ratio of 2.26 and a beta of 1.72.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.23). RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The company had revenue of $345.74 million during the quarter, compared to analysts’ expectations of $342.93 million. During the same quarter in the prior year, the business posted $0.40 EPS. The company’s revenue was up 3.4% on a year-over-year basis. On average, analysts expect that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

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.