abrdn plc Acquires 9,474 Shares of RLJ Lodging Trust (NYSE:RLJ)

abrdn plc increased its stake in RLJ Lodging Trust (NYSE:RLJ) by 30.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,417 shares of the real estate investment trust’s stock after buying an additional 9,474 shares during the quarter. abrdn plc’s holdings in RLJ Lodging Trust were worth $416,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in RLJ Lodging Trust by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust’s stock valued at $32,977,000 after acquiring an additional 170,484 shares during the period. Barclays PLC lifted its position in shares of RLJ Lodging Trust by 97.4% during the 3rd quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust’s stock worth $2,495,000 after buying an additional 134,093 shares during the last quarter. JPMorgan Chase & Co. boosted its position in RLJ Lodging Trust by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust’s stock valued at $47,429,000 after buying an additional 240,254 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of RLJ Lodging Trust by 22.3% during the third quarter. Inspire Investing LLC now owns 44,682 shares of the real estate investment trust’s stock valued at $410,000 after purchasing an additional 8,136 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of RLJ Lodging Trust during the third quarter worth $275,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RLJ shares. Wells Fargo & Company lifted their target price on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an “underweight” rating in a research note on Monday, December 9th. StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Oppenheimer lifted their price objective on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Truist Financial dropped their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.92.

RLJ Lodging Trust Price Performance

Shares of NYSE RLJ opened at $9.64 on Wednesday. RLJ Lodging Trust has a twelve month low of $8.74 and a twelve month high of $12.39. The firm has a market capitalization of $1.48 billion, a P/E ratio of 33.22 and a beta of 1.68. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The stock’s 50-day simple moving average is $10.05 and its two-hundred day simple moving average is $9.61.

RLJ Lodging Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 6.23%. RLJ Lodging Trust’s payout ratio is 206.90%.

RLJ Lodging Trust Profile

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 currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.