Glenmede Trust Co. NA Decreases Position in RLJ Lodging Trust $RLJ

Glenmede Trust Co. NA lowered its stake in RLJ Lodging Trust (NYSE:RLJ) by 8.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,160,197 shares of the real estate investment trust’s stock after selling 103,178 shares during the quarter. Glenmede Trust Co. NA’s holdings in RLJ Lodging Trust were worth $8,609,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Amundi boosted its holdings in RLJ Lodging Trust by 12.3% in the 1st quarter. Amundi now owns 90,874 shares of the real estate investment trust’s stock worth $717,000 after acquiring an additional 9,983 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of RLJ Lodging Trust by 11.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 993,552 shares of the real estate investment trust’s stock valued at $7,839,000 after purchasing an additional 103,065 shares during the period. Norges Bank acquired a new position in shares of RLJ Lodging Trust during the second quarter worth $1,248,000. Invesco Ltd. lifted its position in shares of RLJ Lodging Trust by 47.5% during the second quarter. Invesco Ltd. now owns 1,634,179 shares of the real estate investment trust’s stock worth $11,897,000 after purchasing an additional 526,172 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of RLJ Lodging Trust by 2,721.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 3,347 shares during the period. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RLJ shares. Weiss Ratings raised shares of RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 24th. Wells Fargo & Company boosted their price objective on shares of RLJ Lodging Trust from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Bank of America upped their price objective on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the company an “underperform” rating in a research report on Monday, July 20th. UBS Group set a $13.00 target price on RLJ Lodging Trust in a research note on Thursday, June 18th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $13.00 target price (up from $10.00) on shares of RLJ Lodging Trust in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.83.

RLJ Lodging Trust Stock Performance

RLJ Lodging Trust stock opened at $12.38 on Tuesday. The stock has a market cap of $1.88 billion, a P/E ratio of -1,237.50 and a beta of 1.09. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average of $11.35 and a 200-day moving average of $9.20. RLJ Lodging Trust has a 52 week low of $6.54 and a 52 week high of $12.57.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $339.98 million during the quarter, compared to the consensus estimate of $323.51 million. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. On average, analysts expect that RLJ Lodging Trust will post 1.26 EPS for the current fiscal year.

RLJ Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, June 30th. RLJ Lodging Trust’s dividend payout ratio is -6,000.00%.

RLJ Lodging Trust Profile

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.