Glenmede Trust Co. NA Sells 13,033 Shares of RLJ Lodging Trust (NYSE:RLJ)

Glenmede Trust Co. NA reduced its position in shares of RLJ Lodging Trust (NYSE:RLJ) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,217,090 shares of the real estate investment trust’s stock after selling 13,033 shares during the period. Glenmede Trust Co. NA’s holdings in RLJ Lodging Trust were worth $11,173,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in RLJ Lodging Trust by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,564 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of RLJ Lodging Trust by 0.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 225,738 shares of the real estate investment trust’s stock valued at $2,072,000 after purchasing an additional 1,755 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of RLJ Lodging Trust by 2.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 107,116 shares of the real estate investment trust’s stock valued at $1,267,000 after purchasing an additional 2,071 shares in the last quarter. Lazard Asset Management LLC grew its stake in RLJ Lodging Trust by 32.3% in the first quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock worth $147,000 after purchasing an additional 3,052 shares during the period. Finally, Quarry LP raised its holdings in RLJ Lodging Trust by 197.3% in the second quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 3,627 shares in the last quarter. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Price Performance

Shares of RLJ opened at $10.21 on Friday. RLJ Lodging Trust has a twelve month low of $8.74 and a twelve month high of $12.39. The company has a market capitalization of $1.57 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.26 and a beta of 1.70. The firm has a 50 day moving average of $9.41 and a 200 day moving average of $9.50. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14.

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

Analyst Upgrades and Downgrades

RLJ has been the topic of a number of research reports. Wells Fargo & Company cut shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $11.00 to $9.00 in a report on Friday, September 13th. Oppenheimer upped their price objective on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Truist Financial lowered their target price on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, October 28th. Compass Point downgraded RLJ Lodging Trust from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $10.00 in a research note on Monday, August 5th. Finally, Wolfe Research cut RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.29.

RLJ Lodging Trust Company 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.