Convergence Investment Partners LLC trimmed its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,559 shares of the real estate investment trust’s stock after selling 10,689 shares during the period. Convergence Investment Partners LLC owned about 0.13% of RLJ Lodging Trust worth $3,664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of RLJ Lodging Trust by 1.5% during the second quarter. Vanguard Group Inc. now owns 20,084,086 shares of the real estate investment trust’s stock valued at $399,071,000 after acquiring an additional 300,010 shares during the last quarter. BlackRock Inc. raised its stake in shares of RLJ Lodging Trust by 7.5% during the second quarter. BlackRock Inc. now owns 12,256,164 shares of the real estate investment trust’s stock valued at $243,529,000 after acquiring an additional 856,636 shares during the last quarter. Lasalle Investment Management Securities LLC raised its stake in shares of RLJ Lodging Trust by 6.6% during the second quarter. Lasalle Investment Management Securities LLC now owns 7,289,174 shares of the real estate investment trust’s stock valued at $144,836,000 after acquiring an additional 451,443 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of RLJ Lodging Trust by 6.1% during the second quarter. JPMorgan Chase & Co. now owns 5,743,188 shares of the real estate investment trust’s stock valued at $114,117,000 after acquiring an additional 331,184 shares during the last quarter. Finally, State Street Corp raised its stake in shares of RLJ Lodging Trust by 2.4% during the second quarter. State Street Corp now owns 4,831,260 shares of the real estate investment trust’s stock valued at $96,267,000 after acquiring an additional 111,681 shares during the last quarter. Institutional investors and hedge funds own 95.22% of the company’s stock.

Several equities analysts have recently commented on RLJ shares. Deutsche Bank started coverage on shares of RLJ Lodging Trust in a research note on Tuesday, September 19th. They set a “hold” rating and a $22.00 price objective for the company. SunTrust Banks initiated coverage on shares of RLJ Lodging Trust in a research note on Thursday, October 19th. They set a “hold” rating and a $22.00 price objective for the company. Canaccord Genuity raised shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and increased their price target for the stock from $21.00 to $23.00 in a research note on Friday, September 8th. Barclays initiated coverage on shares of RLJ Lodging Trust in a research note on Friday, October 6th. They issued an “equal weight” rating and a $24.00 price target for the company. Finally, TheStreet downgraded shares of RLJ Lodging Trust from a “b-” rating to a “c+” rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $24.00.

RLJ Lodging Trust (RLJ) traded down $0.16 during mid-day trading on Monday, reaching $21.52. 1,548,300 shares of the company were exchanged, compared to its average volume of 1,543,628. RLJ Lodging Trust has a 12 month low of $19.12 and a 12 month high of $25.10. The company has a market capitalization of $3,764.06, a P/E ratio of 8.82, a P/E/G ratio of 1.86 and a beta of 1.13. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.90.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The business had revenue of $341.26 million for the quarter, compared to analysts’ expectations of $347.74 million. RLJ Lodging Trust had a net margin of 12.30% and a return on equity of 5.80%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. equities research analysts anticipate that RLJ Lodging Trust will post 2.31 earnings per share for the current year.

In other RLJ Lodging Trust news, Director Nathaniel A. Davis sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total value of $201,100.00. Following the sale, the director now owns 72,928 shares in the company, valued at $1,466,582.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

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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.

Institutional Ownership by Quarter for RLJ Lodging Trust (NYSE:RLJ)

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