Wells Fargo & Company MN increased its holdings in RLJ Lodging Trust (NYSE:RLJ) by 36.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,052,848 shares of the real estate investment trust’s stock after buying an additional 279,561 shares during the period. Wells Fargo & Company MN owned 0.84% of RLJ Lodging Trust worth $23,162,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RLJ. Ffcm LLC raised its position in RLJ Lodging Trust by 1,105.3% during the third quarter. Ffcm LLC now owns 5,496 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 5,040 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in RLJ Lodging Trust during the second quarter valued at approximately $214,000. Denver Investment Advisors LLC raised its position in RLJ Lodging Trust by 0.9% during the second quarter. Denver Investment Advisors LLC now owns 11,000 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 100 shares in the last quarter. Daiwa Securities Group Inc. raised its position in RLJ Lodging Trust by 13.1% during the second quarter. Daiwa Securities Group Inc. now owns 11,200 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Utah Retirement Systems raised its position in RLJ Lodging Trust by 2.6% during the second quarter. Utah Retirement Systems now owns 11,707 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 95.22% of the company’s stock.

Shares of RLJ Lodging Trust (NYSE RLJ) traded up $0.43 during midday trading on Friday, hitting $22.06. 2,627,487 shares of the stock traded hands, compared to its average volume of 1,196,774. 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 52-week low of $19.12 and a 52-week high of $25.01. The firm has a market capitalization of $3,858.51, a price-to-earnings ratio of 9.04, a P/E/G ratio of 1.94 and a beta of 1.13.

RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $341.26 million for the quarter, compared to analyst estimates of $347.74 million. During the same quarter in the prior year, the business posted $0.69 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. sell-side analysts forecast that RLJ Lodging Trust will post 2.27 earnings per share for the current fiscal year.

A number of analysts have weighed in on RLJ shares. ValuEngine cut shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Canaccord Genuity raised shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $21.00 to $23.00 in a research note on Friday, September 8th. Deutsche Bank began coverage on shares of RLJ Lodging Trust in a research note on Tuesday, September 19th. They issued a “hold” rating and a $22.00 price objective on the stock. Zacks Investment Research cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Finally, Wells Fargo & Company raised shares of RLJ Lodging Trust from a “market perform” rating to an “outperform” rating and set a $23.00 price objective on the stock in a research note on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. RLJ Lodging Trust has a consensus rating of “Hold” and an average target price of $23.20.

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About RLJ Lodging Trust

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

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