BTC Capital Management Inc. Takes $358,000 Position in RLJ Lodging Trust (NYSE:RLJ)

BTC Capital Management Inc. bought a new position in shares of RLJ Lodging Trust (NYSE:RLJ) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,315 shares of the real estate investment trust’s stock, valued at approximately $358,000.

Several other large investors have also recently bought and sold shares of the stock. Ziegler Capital Management LLC bought a new position in shares of RLJ Lodging Trust during the 4th quarter worth about $984,000. Armistice Capital LLC acquired a new position in RLJ Lodging Trust in the 4th quarter valued at approximately $2,930,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in RLJ Lodging Trust by 4,772.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,175,932 shares of the real estate investment trust’s stock valued at $13,782,000 after acquiring an additional 1,151,800 shares in the last quarter. Alexander Randolph Advisory Inc. bought a new stake in shares of RLJ Lodging Trust in the 4th quarter worth approximately $5,381,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of RLJ Lodging Trust during the 3rd quarter worth approximately $11,258,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RLJ has been the subject of several research reports. StockNews.com cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Oppenheimer raised their price objective on shares of RLJ Lodging Trust from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Robert W. Baird lowered their target price on shares of RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.58.

RLJ Lodging Trust Trading Down 0.2 %

Shares of RLJ Lodging Trust stock opened at $9.60 on Friday. RLJ Lodging Trust has a 12-month low of $9.06 and a 12-month high of $12.39. The stock has a market capitalization of $1.50 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 0.85 and a beta of 1.69. The company has a 50-day simple moving average of $10.35 and a 200 day simple moving average of $11.23. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 1.13.

RLJ Lodging Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Friday, June 28th. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 142.86%.

RLJ Lodging Trust 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.