AlphaCrest Capital Management LLC Buys 128,620 Shares of RLJ Lodging Trust (NYSE:RLJ)

AlphaCrest Capital Management LLC boosted its stake in shares of RLJ Lodging Trust (NYSE:RLJGet Rating) by 451.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,102 shares of the real estate investment trust’s stock after acquiring an additional 128,620 shares during the quarter. AlphaCrest Capital Management LLC owned about 0.10% of RLJ Lodging Trust worth $1,733,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in RLJ Lodging Trust by 2.1% during the first quarter. Vanguard Group Inc. now owns 25,015,428 shares of the real estate investment trust’s stock worth $352,218,000 after acquiring an additional 518,882 shares during the last quarter. State Street Corp increased its stake in RLJ Lodging Trust by 14.9% during the first quarter. State Street Corp now owns 7,993,522 shares of the real estate investment trust’s stock worth $112,627,000 after acquiring an additional 1,038,447 shares during the last quarter. JPMorgan Chase & Co. increased its stake in RLJ Lodging Trust by 7.8% during the first quarter. JPMorgan Chase & Co. now owns 5,173,451 shares of the real estate investment trust’s stock worth $72,842,000 after acquiring an additional 373,082 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in RLJ Lodging Trust by 49.6% during the first 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 acquiring an additional 1,091,984 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in RLJ Lodging Trust by 38.8% during the second quarter. Clearbridge Investments LLC now owns 1,461,965 shares of the real estate investment trust’s stock worth $16,125,000 after acquiring an additional 408,576 shares during the last quarter. 93.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

RLJ Lodging Trust Trading Down 2.3 %

Shares of NYSE RLJ opened at $11.79 on Friday. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average price of $11.29 and a 200 day moving average price of $11.97. RLJ Lodging Trust has a 52-week low of $9.84 and a 52-week high of $15.45.

Insider Activity at RLJ Lodging Trust

In other RLJ Lodging Trust news, Director Patricia L. Gibson acquired 5,000 shares of RLJ Lodging Trust stock in a transaction that occurred on Friday, September 23rd. The stock was bought at an average price of $10.47 per share, with a total value of $52,350.00. Following the completion of the purchase, the director now directly owns 79,635 shares of the company’s stock, valued at approximately $833,778.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by company insiders.

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.

Further Reading

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

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