Allspring Global Investments Holdings LLC Decreases Stock Holdings in RLJ Lodging Trust (NYSE:RLJ)

Allspring Global Investments Holdings LLC lowered its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 51.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,782 shares of the real estate investment trust’s stock after selling 11,645 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in RLJ Lodging Trust were worth $99,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RLJ. Quarry LP increased its holdings in RLJ Lodging Trust by 197.3% in the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 3,627 shares during the period. BOKF NA acquired a new position in RLJ Lodging Trust in the 1st quarter worth approximately $139,000. Lazard Asset Management LLC increased 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 worth $147,000 after buying an additional 3,052 shares during the period. Picton Mahoney Asset Management acquired a new position in RLJ Lodging Trust in the 2nd quarter worth approximately $158,000. Finally, M&G Plc acquired a new stake in shares of RLJ Lodging Trust during the 2nd quarter worth approximately $160,000. Institutional investors and hedge funds own 92.35% of the company’s stock.

RLJ Lodging Trust Trading Up 0.8 %

Shares of NYSE:RLJ opened at $8.84 on Tuesday. RLJ Lodging Trust has a 1 year low of $8.76 and a 1 year high of $12.39. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 0.84 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. The business’s 50 day moving average price is $9.25 and its 200-day moving average price is $9.64.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RLJ shares. Compass Point cut shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $10.00 in a research note on Monday, August 5th. StockNews.com cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Wells Fargo & Company cut shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $11.00 to $9.00 in a research note on Friday, September 13th. Wolfe Research cut shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Finally, Bank of America dropped their price objective on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating on the stock in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, RLJ Lodging Trust presently has a consensus rating of “Hold” and a consensus target price of $11.71.

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.