Charles Schwab Investment Management Inc. Has $32.98 Million Stock Position in RLJ Lodging Trust (NYSE:RLJ)

Charles Schwab Investment Management Inc. grew its position in RLJ Lodging Trust (NYSE:RLJ) by 5.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,592,272 shares of the real estate investment trust’s stock after buying an additional 170,484 shares during the period. Charles Schwab Investment Management Inc. owned 2.32% of RLJ Lodging Trust worth $32,977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Inspire Investing LLC increased its stake in shares of RLJ Lodging Trust by 22.3% in the 3rd quarter. Inspire Investing LLC now owns 44,682 shares of the real estate investment trust’s stock valued at $410,000 after buying an additional 8,136 shares during the period. Creative Planning acquired a new stake in shares of RLJ Lodging Trust during the third quarter worth $275,000. Price T Rowe Associates Inc. MD grew its stake in shares of RLJ Lodging Trust by 2.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 107,116 shares of the real estate investment trust’s stock worth $1,267,000 after purchasing an additional 2,071 shares during the period. Quest Partners LLC grew its stake in shares of RLJ Lodging Trust by 345.1% during the second quarter. Quest Partners LLC now owns 128,274 shares of the real estate investment trust’s stock worth $1,235,000 after purchasing an additional 99,455 shares during the period. Finally, Donald Smith & CO. Inc. grew its stake in shares of RLJ Lodging Trust by 131.1% during the second quarter. Donald Smith & CO. Inc. now owns 3,311,274 shares of the real estate investment trust’s stock worth $31,888,000 after purchasing an additional 1,878,616 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

RLJ Lodging Trust Stock Performance

RLJ opened at $10.67 on Wednesday. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39. The firm has a market capitalization of $1.64 billion, a PE ratio of 36.83, a PEG ratio of 2.26 and a beta of 1.72. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74. The business’s 50-day simple moving average is $9.43 and its 200 day simple moving average is $9.48.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). The business had revenue of $345.74 million for the quarter, compared to analyst estimates of $342.93 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. RLJ Lodging Trust’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. As a group, sell-side analysts expect that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

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.