Great West Life Assurance Co. Can Boosts Position in RLJ Lodging Trust (RLJ)
Great West Life Assurance Co. Can raised its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 28.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,172 shares of the real estate investment trust’s stock after buying an additional 20,412 shares during the period. Great West Life Assurance Co. Can owned 0.08% of RLJ Lodging Trust worth $1,849,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of RLJ. Vanguard Group Inc. raised its position in RLJ Lodging Trust by 2.5% in the first quarter. Vanguard Group Inc. now owns 19,784,076 shares of the real estate investment trust’s stock valued at $465,123,000 after buying an additional 491,109 shares during the period. BlackRock Inc. raised its position in RLJ Lodging Trust by 4,829.7% in the first quarter. BlackRock Inc. now owns 11,399,528 shares of the real estate investment trust’s stock valued at $268,005,000 after buying an additional 11,168,284 shares during the period. JPMorgan Chase & Co. raised its position in RLJ Lodging Trust by 4.2% in the first quarter. JPMorgan Chase & Co. now owns 5,412,004 shares of the real estate investment trust’s stock valued at $127,236,000 after buying an additional 217,204 shares during the period. Bank of New York Mellon Corp raised its position in RLJ Lodging Trust by 51.5% in the first quarter. Bank of New York Mellon Corp now owns 2,944,846 shares of the real estate investment trust’s stock valued at $69,233,000 after buying an additional 1,001,632 shares during the period. Finally, Fisher Asset Management LLC raised its position in RLJ Lodging Trust by 12.6% in the second quarter. Fisher Asset Management LLC now owns 2,926,960 shares of the real estate investment trust’s stock valued at $58,159,000 after buying an additional 326,673 shares during the period. Institutional investors own 99.88% of the company’s stock.
RLJ Lodging Trust (NYSE:RLJ) opened at 19.70 on Monday. The firm has a 50 day moving average of $20.25 and a 200 day moving average of $21.51. The firm has a market capitalization of $2.44 billion, a PE ratio of 13.59 and a beta of 1.16. RLJ Lodging Trust has a one year low of $18.92 and a one year high of $25.10.
RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $292.28 million during the quarter, compared to the consensus estimate of $293.16 million. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. Equities analysts forecast 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. Shareholders of record on Wednesday, August 30th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.88 dividend on an annualized basis and a yield of 4.47%. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently 91.03%.
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RLJ has been the subject of several research reports. Janney Montgomery Scott restated a “buy” rating and set a $28.00 price objective (up previously from $26.00) on shares of RLJ Lodging Trust in a research report on Monday, June 5th. Zacks Investment Research upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. BidaskClub lowered shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada restated a “buy” rating and set a $25.00 price objective on shares of RLJ Lodging Trust in a research report on Friday, August 4th. Finally, Boenning Scattergood set a $20.00 target price on shares of RLJ Lodging Trust and gave the stock a “sell” rating in a report on Monday, August 7th. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $24.38.
In other news, Director Forgia Robert M. La acquired 5,000 shares of RLJ Lodging Trust stock in a transaction on Wednesday, August 16th. The stock was purchased at an average price of $19.73 per share, with a total value of $98,650.00. Following the completion of the purchase, the director now owns 37,528 shares of the company’s stock, valued at approximately $740,427.44. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.
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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