Lasalle Investment Management Securities LLC Has $144.84 Million Stake in RLJ Lodging Trust (RLJ)
Lasalle Investment Management Securities LLC boosted its stake in RLJ Lodging Trust (NYSE:RLJ) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,289,174 shares of the real estate investment trust’s stock after buying an additional 451,443 shares during the period. RLJ Lodging Trust comprises 1.8% of Lasalle Investment Management Securities LLC’s portfolio, making the stock its 24th largest position. Lasalle Investment Management Securities LLC owned approximately 5.85% of RLJ Lodging Trust worth $144,836,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased 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 valued at $109,000 after buying an additional 3,697 shares during the period. James Investment Research Inc. purchased a new stake in RLJ Lodging Trust during the first quarter valued at about $144,000. SG Americas Securities LLC increased its stake 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 purchased a new stake in RLJ Lodging Trust during the second quarter valued at about $208,000. Finally, Denver Investment Advisors LLC increased its stake in RLJ Lodging Trust by 0.9% in 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 buying an additional 100 shares during the period.
Shares of RLJ Lodging Trust (RLJ) opened at 19.70 on Monday. RLJ Lodging Trust has a 52-week low of $18.92 and a 52-week high of $25.10. The company has a market cap of $2.44 billion, a P/E ratio of 13.59 and a beta of 1.16. The stock has a 50 day moving average of $20.25 and a 200 day moving average of $21.51.
RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm 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 business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. On average, equities analysts anticipate that RLJ Lodging Trust will post $0.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Monday, August 28th. RLJ Lodging Trust’s payout ratio is 91.03%.
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Several equities research analysts recently issued reports on the stock. ValuEngine downgraded shares of RLJ Lodging Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Bank of America Corporation assumed coverage on shares of RLJ Lodging Trust in a research note on Monday, August 14th. They set a “neutral” rating and a $22.00 price target on the stock. Canaccord Genuity reaffirmed a “hold” rating and set a $21.00 price target on shares of RLJ Lodging Trust in a research note on Monday, August 7th. Finally, Boenning Scattergood reaffirmed a “sell” rating and set a $19.50 price target on shares of RLJ Lodging Trust in a research note on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.38.
In other RLJ Lodging Trust news, Director Forgia Robert M. La bought 5,000 shares of the 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 in the company, valued at $740,427.44. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by insiders.
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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