Geode Capital Management LLC Has $36.09 Million Stock Position in RLJ Lodging Trust (NYSE:RLJ)

Geode Capital Management LLC lifted its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,930,177 shares of the real estate investment trust’s stock after purchasing an additional 44,121 shares during the period. Geode Capital Management LLC owned 2.56% of RLJ Lodging Trust worth $36,085,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Quarry LP raised its position in RLJ Lodging Trust by 197.3% during the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 3,627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of RLJ Lodging Trust by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 1,564 shares during the last quarter. Ground Swell Capital LLC bought a new position in shares of RLJ Lodging Trust during the third quarter worth about $93,000. Aigen Investment Management LP acquired a new position in shares of RLJ Lodging Trust in the third quarter worth approximately $107,000. Finally, Metis Global Partners LLC boosted its holdings in RLJ Lodging Trust by 31.0% in the third quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 3,738 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.

Wall Street Analyst Weigh In

RLJ has been the topic of a number of recent analyst reports. Wolfe Research downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Wells Fargo & Company boosted their target price on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the company an “underweight” rating in a report on Monday, December 9th. Truist Financial decreased their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, October 28th. Oppenheimer boosted their price objective on RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, StockNews.com raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.50.

RLJ Lodging Trust Stock Performance

Shares of RLJ opened at $10.28 on Thursday. RLJ Lodging Trust has a one year low of $8.74 and a one year high of $12.39. The company has a market cap of $1.58 billion, a PE ratio of 35.45, a P/E/G ratio of 2.31 and a beta of 1.72. The stock has a 50-day moving average of $9.80 and a 200-day moving average of $9.53. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74.

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

RLJ Lodging Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 5.84%. RLJ Lodging Trust’s payout ratio is 206.90%.

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.