RLJ Lodging Trust (NYSE:RLJ) Shares Purchased by Pictet Asset Management SA

Pictet Asset Management SA raised its position in RLJ Lodging Trust (NYSE:RLJGet Rating) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,377 shares of the real estate investment trust’s stock after purchasing an additional 4,747 shares during the quarter. Pictet Asset Management SA’s holdings in RLJ Lodging Trust were worth $743,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RLJ. Charles Schwab Investment Management Inc. raised its holdings in shares of RLJ Lodging Trust by 49.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,294,607 shares of the real estate investment trust’s stock worth $46,389,000 after purchasing an additional 1,091,984 shares during the period. State Street Corp raised its holdings in shares of RLJ Lodging Trust by 14.9% in the 1st quarter. State Street Corp now owns 7,993,522 shares of the real estate investment trust’s stock worth $112,627,000 after purchasing an additional 1,038,447 shares during the period. Vanguard Group Inc. raised its holdings in shares of RLJ Lodging Trust by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 25,015,428 shares of the real estate investment trust’s stock worth $352,218,000 after purchasing an additional 518,882 shares during the period. LSV Asset Management raised its holdings in shares of RLJ Lodging Trust by 265.6% in the 1st quarter. LSV Asset Management now owns 600,761 shares of the real estate investment trust’s stock worth $8,459,000 after purchasing an additional 436,421 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of RLJ Lodging Trust by 7.8% in the 1st quarter. JPMorgan Chase & Co. now owns 5,173,451 shares of the real estate investment trust’s stock worth $72,842,000 after purchasing an additional 373,082 shares during the period. 93.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RLJ has been the topic of several analyst reports. Compass Point dropped their target price on RLJ Lodging Trust to $18.00 in a report on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft dropped their target price on RLJ Lodging Trust from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, October 25th. StockNews.com initiated coverage on RLJ Lodging Trust in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Company dropped their target price on RLJ Lodging Trust from $15.00 to $13.50 and set an “equal weight” rating on the stock in a report on Monday, August 29th. Finally, Truist Financial dropped their price objective on RLJ Lodging Trust from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, October 20th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, RLJ Lodging Trust has an average rating of “Moderate Buy” and an average target price of $16.31.

Insider Buying and Selling

In other news, Director Patricia L. Gibson purchased 5,000 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was purchased at an average price of $10.47 per share, with a total value of $52,350.00. Following the acquisition, the director now directly owns 79,635 shares in the company, valued at approximately $833,778.45. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 2.30% of the stock is owned by insiders.

RLJ Lodging Trust Stock Performance

RLJ opened at $12.07 on Wednesday. The company has a market cap of $1.96 billion, a PE ratio of -109.73 and a beta of 1.77. The stock has a 50-day moving average of $11.31 and a 200-day moving average of $11.97. RLJ Lodging Trust has a 52-week low of $9.84 and a 52-week high of $15.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.67 and a current ratio of 3.67.

About RLJ Lodging Trust

(Get Rating)

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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