abrdn plc Has $522,000 Stock Holdings in RLJ Lodging Trust (NYSE:RLJ)

abrdn plc lifted its stake in shares of RLJ Lodging Trust (NYSE:RLJGet Rating) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 36,696 shares of the real estate investment trust’s stock after buying an additional 1,151 shares during the quarter. abrdn plc’s holdings in RLJ Lodging Trust were worth $522,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Securian Asset Management Inc. lifted its stake in shares of RLJ Lodging Trust by 3.4% during the 1st quarter. Securian Asset Management Inc. now owns 558,196 shares of the real estate investment trust’s stock worth $7,859,000 after buying an additional 18,500 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of RLJ Lodging Trust by 22.0% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 34,400 shares of the real estate investment trust’s stock worth $484,000 after buying an additional 6,200 shares during the last quarter. Full18 Capital LLC acquired a new stake in shares of RLJ Lodging Trust during the 1st quarter worth about $2,452,000. Dupont Capital Management Corp acquired a new stake in RLJ Lodging Trust in the 1st quarter worth about $770,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in RLJ Lodging Trust by 59.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 360,872 shares of the real estate investment trust’s stock worth $5,081,000 after purchasing an additional 133,924 shares in the last quarter. Institutional investors and hedge funds own 98.00% of the company’s stock.

Analyst Upgrades and Downgrades

RLJ has been the subject of several analyst reports. Barclays dropped their price objective on shares of RLJ Lodging Trust from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, July 7th. Truist Financial dropped their price objective on shares of RLJ Lodging Trust to $17.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. StockNews.com cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Monday, June 6th. TheStreet upgraded shares of RLJ Lodging Trust from a “d+” rating to a “c-” rating in a research note on Thursday, May 5th. Finally, KeyCorp dropped their price objective on shares of RLJ Lodging Trust from $20.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, RLJ Lodging Trust currently has a consensus rating of “Hold” and a consensus price target of $17.20.

RLJ Lodging Trust Price Performance

RLJ stock opened at $12.38 on Thursday. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 1.08. RLJ Lodging Trust has a 12 month low of $10.19 and a 12 month high of $16.22. The firm has a market cap of $2.07 billion, a P/E ratio of -7.60 and a beta of 1.77. The company’s 50-day moving average price is $12.02 and its two-hundred day moving average price is $13.20.

RLJ Lodging Trust (NYSE:RLJGet Rating) last released its earnings results on Wednesday, May 4th. The real estate investment trust reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.30). RLJ Lodging Trust had a negative net margin of 26.67% and a negative return on equity of 11.58%. The firm had revenue of $242.90 million during the quarter, compared to the consensus estimate of $239.79 million. During the same period in the prior year, the business earned ($0.18) earnings per share. RLJ Lodging Trust’s quarterly revenue was up 103.2% compared to the same quarter last year. On average, analysts anticipate that RLJ Lodging Trust will post 1.26 earnings per share for the current fiscal year.

RLJ Lodging Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Wednesday, June 29th. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently -2.45%.

About RLJ Lodging Trust

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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 consists of 103 hotels with approximately 22,570 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.

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Institutional Ownership by Quarter for RLJ Lodging Trust (NYSE:RLJ)

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