State of Wyoming Makes New Investment in RLJ Lodging Trust $RLJ

State of Wyoming acquired a new stake in RLJ Lodging Trust (NYSE:RLJ) during the second quarter, according to its most recent filing with the SEC. The firm acquired 57,647 shares of the real estate investment trust’s stock, valued at approximately $683,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of RLJ Lodging Trust by 2,721.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 3,347 shares during the period. PNC Financial Services Group Inc. boosted its holdings in RLJ Lodging Trust by 166.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 2,887 shares during the last quarter. Danske Bank A S bought a new position in RLJ Lodging Trust in the third quarter valued at about $50,000. Los Angeles Capital Management LLC acquired a new stake in RLJ Lodging Trust in the fourth quarter worth about $51,000. Finally, Focus Partners Wealth acquired a new stake in RLJ Lodging Trust in the third quarter worth about $73,000. 92.35% of the stock is owned by institutional investors and hedge funds.

RLJ Lodging Trust Trading Up 0.0%

NYSE RLJ opened at $10.99 on Monday. RLJ Lodging Trust has a one year low of $6.54 and a one year high of $12.89. The company has a debt-to-equity ratio of 1.50, a current ratio of 5.71 and a quick ratio of 5.71. The firm has a market cap of $1.68 billion, a P/E ratio of 7.63 and a beta of 1.09. The stock’s 50-day moving average is $11.59 and its 200-day moving average is $9.44.

RLJ Lodging Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 5.5%.

Analysts Set New Price Targets

A number of research firms have issued reports on RLJ. UBS Group set a $13.00 target price on shares of RLJ Lodging Trust in a research report on Thursday, June 18th. Barclays lifted their price target on shares of RLJ Lodging Trust from $9.00 to $9.50 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings downgraded shares of RLJ Lodging Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Bank of America boosted their price target on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the stock an “underperform” rating in a research note on Monday, July 20th. Finally, Wells Fargo & Company increased their price objective on shares of RLJ Lodging Trust from $9.00 to $11.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, RLJ Lodging Trust presently has a consensus rating of “Reduce” and a consensus price target of $10.94.

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.