Diamant Asset Management Inc. Buys Shares of 89,040 RLJ Lodging Trust $RLJ

Diamant Asset Management Inc. purchased a new position in shares of RLJ Lodging Trust (NYSE:RLJ) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 89,040 shares of the real estate investment trust’s stock, valued at approximately $661,000.

A number of other hedge funds also recently modified their holdings of RLJ. JPMorgan Chase & Co. raised its position in shares of RLJ Lodging Trust by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 5,204,026 shares of the real estate investment trust’s stock valued at $37,469,000 after purchasing an additional 226,335 shares during the period. Tudor Investment Corp ET AL boosted its holdings in RLJ Lodging Trust by 363.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 357,266 shares of the real estate investment trust’s stock worth $2,572,000 after buying an additional 280,123 shares during the period. Donald Smith & CO. Inc. grew its stake in RLJ Lodging Trust by 23.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 13,140,744 shares of the real estate investment trust’s stock valued at $97,899,000 after buying an additional 2,463,189 shares in the last quarter. Fisher Asset Management LLC grew its stake in RLJ Lodging Trust by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 3,127,412 shares of the real estate investment trust’s stock valued at $23,299,000 after buying an additional 94,291 shares in the last quarter. Finally, Pensionfund PDN purchased a new position in RLJ Lodging Trust in the 4th quarter valued at approximately $516,000. Institutional investors own 92.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RLJ shares. LADENBURG THALM/SH SH increased their target price on RLJ Lodging Trust from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. UBS Group set a $13.00 price target on RLJ Lodging Trust in a research report on Thursday, June 18th. Weiss Ratings upgraded RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Wall Street Zen raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Sunday, June 7th. Finally, Truist Financial raised their target price on RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, June 12th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.56.

RLJ Lodging Trust Stock Performance

NYSE RLJ opened at $11.83 on Friday. RLJ Lodging Trust has a 1 year low of $6.54 and a 1 year high of $12.03. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89. The stock has a market capitalization of $1.80 billion, a PE ratio of -1,183.20 and a beta of 1.13. The company’s 50 day simple moving average is $9.67 and its two-hundred day simple moving average is $8.42.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. The firm had revenue of $339.98 million during the quarter, compared to the consensus estimate of $323.51 million. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. Analysts predict that RLJ Lodging Trust will post 1.26 earnings per share for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 5.1%. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently -6,000.00%.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.