Sumitomo Mitsui Trust Group Inc. Cuts Position in RLJ Lodging Trust (NYSE:RLJ)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 162,045 shares of the real estate investment trust’s stock after selling 4,833 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.11% of RLJ Lodging Trust worth $1,654,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 purchasing an additional 1,564 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in shares of RLJ Lodging Trust during the 3rd quarter worth about $93,000. Aigen Investment Management LP acquired a new position in shares of RLJ Lodging Trust in the 3rd quarter valued at $107,000. Metis Global Partners LLC increased its position in shares of RLJ Lodging Trust by 31.0% during the third quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 3,738 shares in the last quarter. Finally, Creative Planning purchased a new stake in RLJ Lodging Trust in the third quarter valued at approximately $275,000. 92.35% of the stock is owned by institutional investors and hedge funds.

RLJ Lodging Trust Stock Up 0.2 %

Shares of NYSE:RLJ opened at $9.57 on Friday. The company has a market capitalization of $1.47 billion, a P/E ratio of 32.98 and a beta of 1.68. The stock’s fifty day simple moving average is $9.99 and its 200-day simple moving average is $9.61. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14.

RLJ Lodging Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 6.27%. RLJ Lodging Trust’s dividend payout ratio is currently 206.90%.

Analysts Set New Price Targets

RLJ has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an “underweight” rating in a research report on Monday, December 9th. Truist Financial lowered their target price on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Oppenheimer lifted their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.92.

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.