RLJ Lodging Trust (NYSE:RLJ) Shares Acquired by abrdn plc

abrdn plc boosted its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 30.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,417 shares of the real estate investment trust’s stock after purchasing an additional 9,474 shares during the quarter. abrdn plc’s holdings in RLJ Lodging Trust were worth $416,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RLJ. Charles Schwab Investment Management Inc. increased its position in shares of RLJ Lodging Trust by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust’s stock valued at $32,977,000 after purchasing an additional 170,484 shares during the period. Barclays PLC boosted its position in shares of RLJ Lodging Trust by 97.4% in the third quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust’s stock worth $2,495,000 after buying an additional 134,093 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of RLJ Lodging Trust by 4.9% during the third quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust’s stock valued at $47,429,000 after buying an additional 240,254 shares in the last quarter. Inspire Investing LLC lifted its position in shares of RLJ Lodging Trust by 22.3% in the third quarter. Inspire Investing LLC now owns 44,682 shares of the real estate investment trust’s stock worth $410,000 after purchasing an additional 8,136 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of RLJ Lodging Trust in the third quarter worth $275,000. 92.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RLJ has been the subject of several recent research reports. Oppenheimer boosted their target price on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Truist Financial decreased 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. StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company raised their price target on RLJ Lodging Trust from $10.00 to $10.50 and gave the company an “underweight” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, RLJ Lodging Trust currently has an average rating of “Hold” and a consensus price target of $10.92.

RLJ Lodging Trust Trading Up 1.0 %

NYSE RLJ opened at $9.64 on Wednesday. The company has a market capitalization of $1.48 billion, a PE ratio of 33.22 and a beta of 1.68. The stock has a 50-day simple moving average of $10.05 and a 200 day simple moving average of $9.61. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. RLJ Lodging Trust has a 12 month low of $8.74 and a 12 month high of $12.39.

RLJ Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.15 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 6.23%. RLJ Lodging Trust’s payout ratio is 206.90%.

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.