Victory Capital Management Inc. Has $1.26 Million Stock Position in RLJ Lodging Trust (NYSE:RLJ)

Victory Capital Management Inc. raised its holdings in RLJ Lodging Trust (NYSE:RLJ) by 32.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 130,942 shares of the real estate investment trust’s stock after acquiring an additional 32,029 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of RLJ Lodging Trust worth $1,261,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RLJ. Hazelview Securities Inc. acquired a new position in RLJ Lodging Trust in the 1st quarter valued at approximately $82,000. BOKF NA acquired a new stake in shares of RLJ Lodging Trust during the first quarter worth $139,000. Allspring Global Investments Holdings LLC increased its position in shares of RLJ Lodging Trust by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 1,229 shares during the period. Lazard Asset Management LLC increased its position in shares of RLJ Lodging Trust by 32.3% during the first quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 3,052 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of RLJ Lodging Trust during the second quarter worth $158,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $11.00 to $9.00 in a research report on Friday, September 13th. Robert W. Baird decreased their price objective on shares of RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, June 11th. Bank of America decreased their price objective on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, July 22nd. StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Friday, August 30th. Finally, Compass Point cut shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $10.00 in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, RLJ Lodging Trust presently has an average rating of “Hold” and a consensus target price of $12.25.

RLJ Lodging Trust Trading Up 6.5 %

NYSE:RLJ opened at $9.90 on Friday. RLJ Lodging Trust has a 12 month low of $8.79 and a 12 month high of $12.39. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 0.86 and a beta of 1.70. The firm has a fifty day simple moving average of $9.32 and a two-hundred day simple moving average of $10.22. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.12.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.25). RLJ Lodging Trust had a net margin of 4.93% and a return on equity of 3.34%. The business had revenue of $369.30 million during the quarter, compared to the consensus estimate of $365.67 million. During the same period last year, the business posted $0.56 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Analysts expect that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

RLJ Lodging Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.06%. This is a positive change from RLJ Lodging Trust’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, September 30th. RLJ Lodging Trust’s dividend payout ratio (DPR) is 142.86%.

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.