Los Angeles Capital Management LLC Has $121,000 Stake in RLJ Lodging Trust (NYSE:RLJ)

Los Angeles Capital Management LLC cut its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 27.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,611 shares of the real estate investment trust’s stock after selling 4,770 shares during the quarter. Los Angeles Capital Management LLC’s holdings in RLJ Lodging Trust were worth $121,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hazelview Securities Inc. acquired a new stake in RLJ Lodging Trust during the first quarter worth approximately $82,000. BOKF NA acquired a new stake in RLJ Lodging Trust during the 1st quarter worth approximately $139,000. Allspring Global Investments Holdings LLC boosted its stake in RLJ Lodging Trust by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 1,229 shares during the period. Lazard Asset Management LLC grew its holdings in RLJ Lodging Trust by 32.3% in the 1st quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 3,052 shares in the last quarter. Finally, M&G Plc bought a new position in RLJ Lodging Trust during the 2nd quarter worth $160,000. Institutional investors own 92.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RLJ shares. Wells Fargo & Company cut shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $11.00 to $9.00 in a research report on Friday. StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Friday, August 30th. Robert W. Baird reduced their price target on RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. Compass Point cut RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $10.00 in a report on Monday, August 5th. Finally, Bank of America reduced their target price on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.25.

RLJ Lodging Trust Price Performance

Shares of NYSE:RLJ opened at $9.04 on Tuesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.60 and a current ratio of 2.60. RLJ Lodging Trust has a 52 week low of $8.79 and a 52 week high of $12.39. The firm has a market cap of $1.41 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 0.85 and a beta of 1.70. The firm’s fifty day moving average is $9.33 and its 200-day moving average is $10.27.

RLJ Lodging Trust (NYSE:RLJ) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.25). The company had revenue of $369.30 million for the quarter, compared to analyst estimates of $365.67 million. RLJ Lodging Trust had a return on equity of 3.34% and a net margin of 4.93%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 earnings per share. Sell-side analysts predict that RLJ Lodging Trust will post 1.34 earnings per share for the current year.

RLJ Lodging Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date is Monday, September 30th. This is an increase from RLJ Lodging Trust’s previous quarterly dividend of $0.10. RLJ Lodging Trust’s dividend payout ratio is currently 214.29%.

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.