Mackenzie Financial Corp Has $167,000 Stock Holdings in RLJ Lodging Trust (NYSE:RLJ)

Mackenzie Financial Corp reduced its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 49.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,332 shares of the real estate investment trust’s stock after selling 16,862 shares during the quarter. Mackenzie Financial Corp’s holdings in RLJ Lodging Trust were worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Hazelview Securities Inc. acquired a new stake in RLJ Lodging Trust during the 1st quarter worth $82,000. BOKF NA acquired a new position in RLJ Lodging Trust in the first quarter valued at about $139,000. Allspring Global Investments Holdings LLC boosted its holdings in RLJ Lodging Trust by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 1,229 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of RLJ Lodging Trust by 32.3% during the 1st quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 3,052 shares during the period. Finally, Picton Mahoney Asset Management bought a new stake in shares of RLJ Lodging Trust in the 2nd quarter valued at about $158,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.

RLJ Lodging Trust Stock Down 1.9 %

RLJ stock opened at $9.24 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60. The stock has a market capitalization of $1.44 billion, a P/E ratio of 33.00, a P/E/G ratio of 0.88 and a beta of 1.69. RLJ Lodging Trust has a fifty-two week low of $8.79 and a fifty-two week high of $12.39. The business has a 50-day moving average of $9.29 and a 200-day moving average of $9.98.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.25). The business had revenue of $369.30 million for the quarter, compared to the consensus estimate of $365.67 million. RLJ Lodging Trust had a return on equity of 3.34% and a net margin of 4.93%. RLJ Lodging Trust’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. On average, sell-side analysts anticipate that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

RLJ Lodging Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.49%. This is an increase from RLJ Lodging Trust’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, September 30th. RLJ Lodging Trust’s dividend payout ratio is currently 214.29%.

Analysts Set New Price Targets

RLJ has been the subject of a number of analyst reports. Bank of America decreased their price objective on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, July 22nd. Wells Fargo & Company downgraded RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $11.00 to $9.00 in a research note on Friday, September 13th. Robert W. Baird decreased their target price on RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, June 11th. Compass Point lowered RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $10.00 in a research report on Monday, August 5th. Finally, Wolfe Research cut RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.14.

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.