RLJ Lodging Trust (NYSE:RLJ) Holdings Decreased by Fisher Asset Management LLC

Fisher Asset Management LLC cut its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,099,425 shares of the real estate investment trust’s stock after selling 6,018 shares during the quarter. Fisher Asset Management LLC owned 2.00% of RLJ Lodging Trust worth $28,453,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of RLJ Lodging Trust by 1.7% during the first quarter. Vanguard Group Inc. now owns 25,236,820 shares of the real estate investment trust’s stock worth $298,299,000 after purchasing an additional 420,428 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in RLJ Lodging Trust by 6.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 209,892 shares of the real estate investment trust’s stock worth $2,482,000 after acquiring an additional 12,186 shares during the period. Quadrature Capital Ltd lifted its holdings in RLJ Lodging Trust by 46.7% in the first quarter. Quadrature Capital Ltd now owns 31,418 shares of the real estate investment trust’s stock worth $371,000 after acquiring an additional 10,003 shares during the last quarter. Lazard Asset Management LLC boosted its stake in RLJ Lodging Trust by 32.3% in the first quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 3,052 shares during the period. Finally, BOKF NA bought a new position in shares of RLJ Lodging Trust during the first quarter valued at approximately $139,000. Institutional investors and hedge funds own 92.35% of the company’s stock.

RLJ Lodging Trust Stock Performance

Shares of RLJ opened at $10.06 on Wednesday. The firm has a market capitalization of $1.54 billion, a PE ratio of 34.67, a P/E/G ratio of 0.94 and a beta of 1.70. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $9.38 and a 200 day moving average price of $9.49. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.23). RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The company had revenue of $345.74 million during the quarter, compared to the consensus estimate of $342.93 million. During the same quarter last year, the business earned $0.40 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RLJ. Wells Fargo & Company lowered RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $11.00 to $9.00 in a research report on Friday, September 13th. Compass Point downgraded shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $10.00 in a report on Monday, August 5th. Truist Financial dropped 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 report on Monday, October 28th. Oppenheimer boosted their target price 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. Finally, Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.29.

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.