Glenmede Trust Co. NA Trims Stock Holdings in RLJ Lodging Trust (NYSE:RLJ)

Glenmede Trust Co. NA lowered its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,217,090 shares of the real estate investment trust’s stock after selling 13,033 shares during the period. Glenmede Trust Co. NA owned 0.79% of RLJ Lodging Trust worth $11,173,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Quarry LP lifted its holdings in 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 worth $53,000 after purchasing an additional 3,627 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of RLJ Lodging Trust by 34.9% in 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 buying an additional 1,564 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in shares of RLJ Lodging Trust in the third quarter worth about $93,000. Aigen Investment Management LP bought a new position in shares of RLJ Lodging Trust in the third quarter valued at approximately $107,000. Finally, Metis Global Partners LLC grew 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 valued at $145,000 after acquiring an additional 3,738 shares in the last quarter. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Stock Up 0.7 %

Shares of NYSE RLJ opened at $10.21 on Friday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 35.21, a PEG ratio of 2.26 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. The firm’s 50 day simple moving average is $9.41 and its two-hundred day simple moving average is $9.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Compass Point cut shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $10.00 in a research note on Monday, August 5th. Oppenheimer lifted their price objective 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. StockNews.com lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Wolfe Research downgraded RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Finally, Truist Financial cut their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, October 28th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.29.

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.