Insider Buying: RLJ Lodging Trust (RLJ) Director Purchases $98,650.00 in Stock
RLJ Lodging Trust (NYSE:RLJ) Director Forgia Robert M. La bought 5,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was bought at an average cost of $19.73 per share, for a total transaction of $98,650.00. Following the acquisition, the director now owns 37,528 shares of the company’s stock, valued at approximately $740,427.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
RLJ Lodging Trust (NYSE:RLJ) opened at 19.61 on Monday. The company’s 50-day moving average price is $20.29 and its 200-day moving average price is $21.63. RLJ Lodging Trust has a one year low of $18.92 and a one year high of $25.10. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 13.52 and a beta of 1.16.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $292.28 million during the quarter, compared to analysts’ expectations of $293.16 million. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. On average, analysts anticipate that RLJ Lodging Trust will post $0.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 30th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, August 28th. This represents a $0.88 dividend on an annualized basis and a yield of 4.49%. RLJ Lodging Trust’s payout ratio is 91.03%.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. boosted its stake in RLJ Lodging Trust by 385.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,657 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 3,697 shares during the last quarter. James Investment Research Inc. bought a new position in RLJ Lodging Trust during the first quarter valued at $144,000. SG Americas Securities LLC raised its position in RLJ Lodging Trust by 8.0% in the first quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 615 shares during the period. Paragon Capital Management Ltd bought a new position in RLJ Lodging Trust during the second quarter valued at $208,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in RLJ Lodging Trust during the second quarter valued at $214,000. 99.88% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on RLJ shares. ValuEngine raised RLJ Lodging Trust from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 20th. Janney Montgomery Scott reissued a “buy” rating and issued a $28.00 target price (up previously from $26.00) on shares of RLJ Lodging Trust in a report on Monday, June 5th. Boenning Scattergood reissued a “sell” rating and issued a $19.50 target price on shares of RLJ Lodging Trust in a report on Wednesday, June 14th. BidaskClub lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.38.
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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