Wolverine Asset Management LLC Buys 19,206 Shares of RLJ Lodging Trust (NYSE:RLJ)

Wolverine Asset Management LLC raised its stake in RLJ Lodging Trust (NYSE:RLJ) by 75.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,806 shares of the real estate investment trust’s stock after acquiring an additional 19,206 shares during the quarter. Wolverine Asset Management LLC’s holdings in RLJ Lodging Trust were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Management One Co. Ltd. lifted its stake in RLJ Lodging Trust by 0.8% in the third 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 last quarter. Ground Swell Capital LLC bought a new position in shares of RLJ Lodging Trust during the 3rd quarter worth $93,000. Donald Smith & CO. Inc. increased its holdings in RLJ Lodging Trust by 46.6% in the 3rd quarter. Donald Smith & CO. Inc. now owns 4,855,122 shares of the real estate investment trust’s stock worth $44,570,000 after acquiring an additional 1,543,848 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in RLJ Lodging Trust by 34.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,564 shares during the period. Finally, Creative Planning purchased a new stake in RLJ Lodging Trust during the third quarter valued at about $275,000. 92.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RLJ. Truist Financial lowered 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 research report on Monday, October 28th. StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Wells Fargo & Company downgraded shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $11.00 to $9.00 in a report on Friday, September 13th. Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Finally, Bank of America cut their price target on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.29.

RLJ Lodging Trust Price Performance

RLJ stock opened at $10.01 on Thursday. The firm has a 50 day simple moving average of $9.26 and a two-hundred day simple moving average of $9.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market cap of $1.53 billion, a PE ratio of 34.50, a P/E/G ratio of 0.94 and a beta of 1.70. RLJ Lodging Trust has a one year low of $8.74 and a one year high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last released 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). RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm had revenue of $345.74 million during the quarter, compared to the consensus estimate of $342.93 million. During the same period in the prior year, the company earned $0.40 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

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.