Mirae Asset Global Investments Co. Ltd. Grows Position in RLJ Lodging Trust (NYSE:RLJ)

Mirae Asset Global Investments Co. Ltd. grew its stake in RLJ Lodging Trust (NYSE:RLJ) by 34.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,051 shares of the real estate investment trust’s stock after purchasing an additional 1,564 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in RLJ Lodging Trust were worth $57,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RLJ. Quarry LP lifted its position in shares of RLJ Lodging Trust by 197.3% during the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 3,627 shares in the last quarter. BOKF NA purchased a new position in shares of RLJ Lodging Trust during the 1st quarter valued at approximately $139,000. Allspring Global Investments Holdings LLC lifted its position in shares of 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 buying an additional 1,229 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in RLJ Lodging Trust by 32.3% in the 1st quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 3,052 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in RLJ Lodging Trust in the 2nd quarter valued at $158,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Trading Up 0.6 %

Shares of RLJ stock opened at $8.89 on Wednesday. The business’s fifty day moving average price is $9.24 and its 200 day moving average price is $9.62. RLJ Lodging Trust has a 1-year low of $8.74 and a 1-year high of $12.39. The firm has a market capitalization of $1.38 billion, a PE ratio of 34.19, a P/E/G ratio of 0.83 and a beta of 1.70. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60.

Wall Street Analysts Forecast Growth

RLJ has been the topic of a number of research reports. Wells Fargo & Company lowered RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $11.00 to $9.00 in a report on Friday, September 13th. Compass Point lowered RLJ Lodging Trust from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $10.00 in a report on Monday, August 5th. StockNews.com lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday. Truist Financial decreased their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Wolfe Research downgraded RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Three 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, RLJ Lodging Trust currently has a consensus rating of “Hold” and a consensus price target of $11.71.

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.