Sumitomo Mitsui Trust Group Inc. Has $1.53 Million Stock Holdings in RLJ Lodging Trust (NYSE:RLJ)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 1.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,878 shares of the real estate investment trust’s stock after selling 1,805 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in RLJ Lodging Trust were worth $1,532,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quarry LP raised its position in RLJ Lodging Trust by 197.3% during the second 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 during the period. Mirae Asset Global Investments Co. Ltd. raised its position in RLJ Lodging Trust by 34.9% during the third 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 buying an additional 1,564 shares during the period. Ground Swell Capital LLC acquired a new position in RLJ Lodging Trust during the third quarter valued at $93,000. BOKF NA acquired a new position in RLJ Lodging Trust during the first quarter valued at $139,000. Finally, Lazard Asset Management LLC raised its position in RLJ Lodging Trust by 32.3% during the first quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 3,052 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RLJ has been the subject of a number of recent research reports. Oppenheimer raised their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. 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. Wells Fargo & Company downgraded RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $11.00 to $9.00 in a research note on Friday, September 13th. 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 equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.29.

RLJ Lodging Trust Stock Performance

Shares of NYSE RLJ opened at $9.59 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 0.91 and a beta of 1.70. The business’s 50-day simple moving average is $9.32 and its 200-day simple moving average is $9.51. RLJ Lodging Trust has a 52 week low of $8.74 and a 52 week high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data 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 company had revenue of $345.74 million for the quarter, compared to analyst estimates of $342.93 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. As a group, equities research analysts expect that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

About RLJ Lodging Trust

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.