Wolverine Asset Management LLC Raises Position in RLJ Lodging Trust (NYSE:RLJ)

Wolverine Asset Management LLC raised its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 75.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,806 shares of the real estate investment trust’s stock after buying an additional 19,206 shares during the period. Wolverine Asset Management LLC’s holdings in RLJ Lodging Trust were worth $411,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in RLJ Lodging Trust by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 1,229 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of RLJ Lodging Trust by 36.0% in the first quarter. BNP Paribas Financial Markets now owns 100,553 shares of the real estate investment trust’s stock worth $1,189,000 after purchasing an additional 26,604 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of RLJ Lodging Trust by 86.5% in the first quarter. SG Americas Securities LLC now owns 125,076 shares of the real estate investment trust’s stock worth $1,478,000 after buying an additional 58,002 shares during the period. Sei Investments Co. boosted its position in RLJ Lodging Trust by 2.6% during the 1st quarter. Sei Investments Co. now owns 318,188 shares of the real estate investment trust’s stock valued at $3,761,000 after buying an additional 8,134 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in RLJ Lodging Trust by 44.8% during the 1st quarter. Russell Investments Group Ltd. now owns 181,076 shares of the real estate investment trust’s stock valued at $2,140,000 after buying an additional 55,996 shares during the period. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Price Performance

RLJ opened at $10.01 on Thursday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.70. The stock has a fifty day simple moving average of $9.26 and a two-hundred day simple moving average of $9.56. RLJ Lodging Trust has a 12-month low of $8.74 and a 12-month high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.23). RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The business had revenue of $345.74 million during the quarter, compared to the consensus estimate of $342.93 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Research analysts predict that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RLJ. StockNews.com downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Bank of America lowered their price target on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, July 22nd. Compass Point lowered RLJ Lodging Trust from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $10.00 in a research report on Monday, August 5th. Wolfe Research downgraded RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Finally, Truist Financial cut their price target on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.29.

RLJ Lodging Trust Profile

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.