State of Wyoming Purchases Shares of 57,647 RLJ Lodging Trust $RLJ

State of Wyoming acquired a new position in shares of RLJ Lodging Trust (NYSE:RLJ) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,647 shares of the real estate investment trust’s stock, valued at approximately $683,000.

Several other hedge funds have also recently bought and sold shares of RLJ. PNC Financial Services Group Inc. boosted its stake in shares of RLJ Lodging Trust by 29.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,374 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in shares of RLJ Lodging Trust by 17.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 10,972 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,661 shares during the last quarter. Deutsche Bank AG increased its position in shares of RLJ Lodging Trust by 1.4% during the 4th quarter. Deutsche Bank AG now owns 181,568 shares of the real estate investment trust’s stock worth $1,353,000 after purchasing an additional 2,453 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of RLJ Lodging Trust by 2,721.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 3,347 shares in the last quarter. Finally, Danske Bank A S lifted its holdings in RLJ Lodging Trust by 58.0% during the 4th quarter. Danske Bank A S now owns 10,900 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 4,000 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RLJ shares. UBS Group set a $13.00 price target on shares of RLJ Lodging Trust in a research report on Thursday, June 18th. Raymond James Financial lowered shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and raised their price objective for the stock from $9.00 to $11.00 in a report on Thursday, May 28th. Truist Financial lifted their target price on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, June 12th. Oppenheimer reissued an “outperform” rating and issued a $13.00 target price (up from $10.00) on shares of RLJ Lodging Trust in a report on Thursday, June 18th. Finally, Zacks Research lowered RLJ Lodging Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $10.94.

RLJ Lodging Trust Stock Performance

RLJ Lodging Trust stock opened at $10.99 on Monday. The stock has a 50-day simple moving average of $11.59 and a 200 day simple moving average of $9.44. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 7.63 and a beta of 1.09. The company has a quick ratio of 5.71, a current ratio of 5.71 and a debt-to-equity ratio of 1.50. RLJ Lodging Trust has a 12-month low of $6.54 and a 12-month high of $12.89.

RLJ Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.5%. The ex-dividend date was Tuesday, June 30th.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.