Ameriprise Financial Inc. Has $24.49 Million Position in RLJ Lodging Trust (NYSE:RLJ)

Ameriprise Financial Inc. boosted its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 58.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,398,066 shares of the real estate investment trust’s stock after acquiring an additional 885,071 shares during the quarter. Ameriprise Financial Inc.’s holdings in RLJ Lodging Trust were worth $24,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RLJ. Barclays PLC raised its position in shares of RLJ Lodging Trust by 97.4% in the third quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust’s stock valued at $2,495,000 after purchasing an additional 134,093 shares during the period. Fisher Asset Management LLC raised its position in shares of RLJ Lodging Trust by 7.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,331,818 shares of the real estate investment trust’s stock valued at $34,018,000 after purchasing an additional 232,393 shares during the period. Sanctuary Advisors LLC bought a new position in shares of RLJ Lodging Trust in the fourth quarter valued at approximately $277,000. Entropy Technologies LP bought a new position in shares of RLJ Lodging Trust in the fourth quarter valued at approximately $355,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of RLJ Lodging Trust by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,690,945 shares of the real estate investment trust’s stock valued at $37,685,000 after purchasing an additional 98,673 shares during the period. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Stock Down 1.4%

Shares of NYSE RLJ opened at $7.61 on Thursday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 2.87 and a beta of 1.50. RLJ Lodging Trust has a 12-month low of $6.16 and a 12-month high of $10.84. 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 firm’s 50-day simple moving average is $7.57 and its 200 day simple moving average is $9.04.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $328.12 million during the quarter, compared to analysts’ expectations of $328.08 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. On average, research analysts expect that RLJ Lodging Trust will post 1.37 earnings per share for the current fiscal year.

RLJ Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 7.88%. RLJ Lodging Trust’s dividend payout ratio is currently 230.77%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RLJ. Wells Fargo & Company dropped their price target on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th. StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. KeyCorp reduced their target price on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Truist Financial downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and reduced their target price for the company from $11.00 to $10.00 in a research note on Friday, March 21st. Finally, Oppenheimer reduced their target price on shares of RLJ Lodging Trust from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, RLJ Lodging Trust presently has a consensus rating of “Hold” and a consensus price target of $10.68.

Insiders Place Their Bets

In related news, Director Patricia L. Gibson purchased 10,000 shares of the stock in a transaction dated Friday, March 28th. The stock was bought at an average cost of $8.03 per share, with a total value of $80,300.00. Following the purchase, the director now directly owns 124,217 shares in the company, valued at $997,462.51. The trade was a 8.76% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

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.