Martingale Asset Management L P Reduces Position in RLJ Lodging Trust (NYSE:RLJ)

Martingale Asset Management L P reduced its position in RLJ Lodging Trust (NYSE:RLJ) by 51.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,061 shares of the real estate investment trust’s stock after selling 63,283 shares during the quarter. Martingale Asset Management L P’s holdings in RLJ Lodging Trust were worth $551,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP raised its holdings in shares of RLJ Lodging Trust by 197.3% in the second quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 3,627 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in RLJ Lodging Trust by 34.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,564 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in RLJ Lodging Trust in the third quarter worth $93,000. Aigen Investment Management LP bought a new stake in shares of RLJ Lodging Trust during the third quarter worth $107,000. Finally, Metis Global Partners LLC boosted its stake 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 valued at $145,000 after purchasing an additional 3,738 shares during the period. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Trading Up 5.1 %

Shares of NYSE RLJ opened at $10.67 on Wednesday. RLJ Lodging Trust has a 1-year low of $8.74 and a 1-year high of $12.39. The business has a fifty day moving average price of $9.43 and a 200 day moving average price of $9.48. The stock has a market capitalization of $1.64 billion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.72. 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 (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 during the quarter, compared to the consensus estimate of $342.93 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 earnings per share. Equities research analysts expect that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

Analyst Ratings Changes

RLJ has been the topic of several recent analyst reports. Truist Financial reduced their price target 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. StockNews.com downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lowered RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $11.00 to $9.00 in a research report on Friday, September 13th. Oppenheimer increased their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Wolfe Research downgraded RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, RLJ Lodging Trust presently has an average rating of “Hold” and an average target price of $11.29.

RLJ Lodging Trust Company 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.