BNP Paribas Financial Markets Reduces Holdings in RLJ Lodging Trust (NYSE:RLJ)

BNP Paribas Financial Markets reduced its position in RLJ Lodging Trust (NYSE:RLJ) by 11.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,441 shares of the real estate investment trust’s stock after selling 10,407 shares during the period. BNP Paribas Financial Markets owned approximately 0.05% of RLJ Lodging Trust worth $738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of RLJ Lodging Trust by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 980,894 shares of the real estate investment trust’s stock valued at $9,446,000 after purchasing an additional 51,981 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in RLJ Lodging Trust by 87.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 22,427 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 10,483 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in RLJ Lodging Trust by 2.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,591,525 shares of the real estate investment trust’s stock worth $15,326,000 after buying an additional 37,137 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of RLJ Lodging Trust in the 2nd quarter worth approximately $158,000. Finally, Wolverine Asset Management LLC increased its holdings in shares of RLJ Lodging Trust by 219.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 25,600 shares of the real estate investment trust’s stock valued at $247,000 after acquiring an additional 17,589 shares during the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.

RLJ Lodging Trust Trading Down 0.5 %

Shares of RLJ opened at $10.48 on Friday. 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 company has a market cap of $1.61 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 2.32 and a beta of 1.72. The stock has a fifty day moving average price of $9.61 and a two-hundred day moving average price of $9.51. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39.

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

Wall Street Analysts Forecast Growth

RLJ has been the topic of several analyst reports. StockNews.com raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Oppenheimer lifted their price objective on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Truist Financial dropped their price target on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Wells Fargo & Company boosted their price objective on RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an “underweight” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, RLJ Lodging Trust has a consensus rating of “Hold” and an average price target of $11.50.

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.