Allianz Asset Management GmbH Acquires 3,051 Shares of RLJ Lodging Trust (NYSE:RLJ)

Allianz Asset Management GmbH raised its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 0.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,256,204 shares of the real estate investment trust’s stock after acquiring an additional 3,051 shares during the period. Allianz Asset Management GmbH owned approximately 2.12% of RLJ Lodging Trust worth $33,246,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 purchasing an additional 1,564 shares during the last quarter. Ground Swell Capital LLC bought a new stake in RLJ Lodging Trust in the 3rd quarter worth approximately $93,000. Aigen Investment Management LP purchased a new stake in RLJ Lodging Trust during the 3rd quarter valued at $107,000. Metis Global Partners LLC lifted its holdings in shares of RLJ Lodging Trust by 31.0% during the 3rd quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 3,738 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of RLJ Lodging Trust in the 4th quarter worth $277,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.

Analysts Set New Price Targets

RLJ has been the subject of a number of research reports. StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Oppenheimer upped their price target on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Truist Financial dropped their price objective on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Wells Fargo & Company reduced their target price on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating for the company in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.79.

RLJ Lodging Trust Trading Down 2.3 %

Shares of NYSE:RLJ opened at $9.36 on Monday. The stock has a 50 day moving average of $9.90 and a 200 day moving average of $9.63. The company has a market cap of $1.43 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 2.87 and a beta of 1.68. RLJ Lodging Trust has a 12-month low of $8.74 and a 12-month high of $12.39. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14.

RLJ Lodging Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.15 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.41%. RLJ Lodging Trust’s payout ratio is currently 206.90%.

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.