Charles Schwab Investment Management Inc. Buys 170,484 Shares of RLJ Lodging Trust (NYSE:RLJ)

Charles Schwab Investment Management Inc. lifted its stake in RLJ Lodging Trust (NYSE:RLJ) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,592,272 shares of the real estate investment trust’s stock after buying an additional 170,484 shares during the period. Charles Schwab Investment Management Inc.’s holdings in RLJ Lodging Trust were worth $32,977,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Quarry LP lifted its stake 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 worth $53,000 after purchasing an additional 3,627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 worth $57,000 after purchasing an additional 1,564 shares during the last quarter. Ground Swell Capital LLC bought a new stake in RLJ Lodging Trust during the third quarter worth $93,000. Aigen Investment Management LP bought a new stake in RLJ Lodging Trust during the third quarter worth $107,000. Finally, Metis Global Partners LLC lifted its stake in RLJ Lodging Trust by 31.0% during the third quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 3,738 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors.

RLJ Lodging Trust Stock Performance

Shares of RLJ Lodging Trust stock opened at $10.67 on Wednesday. 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 business has a 50-day moving average price of $9.43 and a two-hundred day moving average price of $9.48. RLJ Lodging Trust has a 1-year low of $8.74 and a 1-year high of $12.39. The company has a market cap of $1.64 billion, a P/E ratio of 36.83, a PEG ratio of 2.26 and a beta of 1.72.

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 for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). The business had revenue of $345.74 million for the quarter, compared to analyst estimates of $342.93 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. As a group, analysts anticipate that RLJ Lodging Trust will post 1.34 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on RLJ. Wells Fargo & Company cut RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $11.00 to $9.00 in a research note on Friday, September 13th. StockNews.com cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Truist Financial dropped their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Oppenheimer increased their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. 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 investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, RLJ Lodging Trust currently has an average rating of “Hold” and a consensus target price 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.