Hillcrest Asset Management LLC Cuts Position in RLJ Lodging Trust (RLJ)
Hillcrest Asset Management LLC reduced its position in RLJ Lodging Trust (NYSE:RLJ) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 355,257 shares of the real estate investment trust’s stock after selling 9,036 shares during the quarter. Hillcrest Asset Management LLC owned about 0.29% of RLJ Lodging Trust worth $7,816,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in RLJ Lodging Trust by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 20,084,086 shares of the real estate investment trust’s stock valued at $399,071,000 after purchasing an additional 300,010 shares in the last quarter. BlackRock Inc. increased its holdings in RLJ Lodging Trust by 7.5% in the 2nd 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 in the last quarter. Lasalle Investment Management Securities LLC increased its holdings in RLJ Lodging Trust by 6.6% in the 2nd quarter. Lasalle Investment Management Securities LLC now owns 7,289,174 shares of the real estate investment trust’s stock valued at $144,836,000 after purchasing an additional 451,443 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in RLJ Lodging Trust by 6.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,743,188 shares of the real estate investment trust’s stock valued at $114,117,000 after purchasing an additional 331,184 shares in the last quarter. Finally, State Street Corp increased its holdings in RLJ Lodging Trust by 2.4% in the 2nd quarter. State Street Corp now owns 4,831,260 shares of the real estate investment trust’s stock valued at $96,267,000 after purchasing an additional 111,681 shares in the last quarter.
In related news, Director Forgia Robert M. La purchased 5,000 shares of RLJ Lodging Trust stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $19.73 per share, with a total value of $98,650.00. Following the completion of the transaction, the director now owns 37,528 shares of the company’s stock, valued at approximately $740,427.44. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Nathaniel A. Davis sold 10,000 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $20.11, for a total transaction of $201,100.00. Following the transaction, the director now directly owns 72,928 shares in the company, valued at approximately $1,466,582.08. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Shares of RLJ Lodging Trust (NYSE:RLJ) traded down $0.24 during mid-day trading on Tuesday, hitting $20.93. 1,531,000 shares of the stock traded hands, compared to its average volume of 1,559,640. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.90. RLJ Lodging Trust has a twelve month low of $19.12 and a twelve month high of $25.10. The company has a market capitalization of $2,638.60, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14.
RLJ Lodging Trust (NYSE:RLJ) last issued 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. RLJ Lodging Trust had a net margin of 12.30% and a return on equity of 5.80%. The business had revenue of $341.26 million for the quarter, compared to analysts’ expectations of $347.74 million. During the same quarter last year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. equities research analysts expect that RLJ Lodging Trust will post 2.29 earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. Boenning Scattergood set a $20.00 price target on RLJ Lodging Trust and gave the company a “sell” rating in a report on Tuesday, July 18th. Canaccord Genuity reiterated a “hold” rating and issued a $21.00 price target on shares of RLJ Lodging Trust in a report on Monday, August 7th. TheStreet downgraded RLJ Lodging Trust from a “b-” rating to a “c+” rating in a report on Wednesday, November 8th. Zacks Investment Research upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, Bank of America Corporation initiated coverage on RLJ Lodging Trust in a research note on Monday, August 14th. They set a “neutral” rating and a $22.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. RLJ Lodging Trust has an average rating of “Hold” and an average target price of $24.00.
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RLJ Lodging Trust Company Profile
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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