Intech Investment Management LLC Takes $406,000 Position in RLJ Lodging Trust (NYSE:RLJ)

Intech Investment Management LLC purchased a new stake in RLJ Lodging Trust (NYSE:RLJ) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,218 shares of the real estate investment trust’s stock, valued at approximately $406,000.

Several other large investors have also modified their holdings of RLJ. Quarry LP raised its position in RLJ Lodging Trust by 197.3% in the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 3,627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in RLJ Lodging Trust by 34.9% during the 3rd 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 period. Ground Swell Capital LLC purchased a new position in shares of RLJ Lodging Trust in the 3rd quarter valued at approximately $93,000. Aigen Investment Management LP purchased a new stake in shares of RLJ Lodging Trust during the third quarter worth approximately $107,000. Finally, Metis Global Partners LLC lifted its holdings 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 during the period. Institutional investors and hedge funds own 92.35% of the company’s stock.

Analyst Upgrades and Downgrades

RLJ has been the subject of several analyst reports. StockNews.com cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Oppenheimer raised their price objective on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Wolfe Research downgraded RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Compass Point cut RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $10.00 in a research report on Monday, August 5th. Finally, Truist Financial lowered their price objective 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. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.29.

RLJ Lodging Trust Stock Performance

RLJ stock opened at $10.15 on Tuesday. The stock has a market capitalization of $1.56 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 2.27 and a beta of 1.70. 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 has a fifty-two week low of $8.74 and a fifty-two week high of $12.39. The company has a 50 day moving average price of $9.42 and a 200 day moving average price of $9.48.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). The firm had revenue of $345.74 million for the quarter, compared to analyst estimates of $342.93 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. Analysts forecast that RLJ Lodging Trust will post 1.34 EPS for the current year.

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.