State Board of Administration of Florida Retirement System raised its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 46.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,018 shares of the real estate investment trust’s stock after purchasing an additional 37,431 shares during the period. State Board of Administration of Florida Retirement System owned about 0.10% of RLJ Lodging Trust worth $2,596,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in RLJ. AJO LP increased its stake in RLJ Lodging Trust by 108.8% during the second quarter. AJO LP now owns 3,814,317 shares of the real estate investment trust’s stock valued at $75,790,000 after purchasing an additional 1,987,760 shares during the last quarter. APG Asset Management US Inc. bought a new stake in RLJ Lodging Trust during the third quarter valued at $40,768,000. Citadel Advisors LLC increased its stake in RLJ Lodging Trust by 2,706.7% during the second quarter. Citadel Advisors LLC now owns 1,314,146 shares of the real estate investment trust’s stock valued at $26,112,000 after purchasing an additional 1,267,324 shares during the last quarter. Real Estate Management Services LLC bought a new stake in RLJ Lodging Trust during the third quarter valued at $22,430,000. Finally, BlackRock Inc. increased its stake in RLJ Lodging Trust by 7.5% during the second quarter. BlackRock Inc. now owns 12,256,164 shares of the real estate investment trust’s stock valued at $243,529,000 after purchasing an additional 856,636 shares during the last quarter.
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RLJ Lodging Trust (RLJ) opened at $20.78 on Thursday. The company has a market cap of $2,580.02, a PE ratio of 8.48, a PEG ratio of 1.79 and a beta of 1.14. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.90. RLJ Lodging Trust has a 12-month low of $19.12 and a 12-month high of $25.10.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. The business had revenue of $341.26 million during the quarter, compared to analyst estimates of $347.74 million. RLJ Lodging Trust had a net margin of 12.30% and a return on equity of 5.80%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. research analysts expect that RLJ Lodging Trust will post 2.31 EPS for the current fiscal year.
RLJ has been the subject of several recent research reports. Robert W. Baird set a $23.00 target price on shares of RLJ Lodging Trust and gave the company a “hold” rating in a research note on Sunday, October 29th. Royal Bank Of Canada reiterated a “buy” rating and set a $25.00 target price on shares of RLJ Lodging Trust in a research note on Friday, August 4th. Barclays PLC initiated coverage on shares of RLJ Lodging Trust in a research note on Friday, October 6th. They set an “equal weight” rating and a $24.00 target price for the company. ValuEngine upgraded shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Deutsche Bank AG initiated coverage on shares of RLJ Lodging Trust in a research note on Tuesday, September 19th. They set a “hold” rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $24.00.
In other news, Director Nathaniel A. Davis sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total transaction of $201,100.00. Following the completion of the transaction, the director now owns 72,928 shares in the company, valued at $1,466,582.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.
About RLJ Lodging Trust
RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.
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