Hemington Wealth Management Sells 6,560 Shares of RLJ Lodging Trust (NYSE:RLJ)

Hemington Wealth Management trimmed its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 18.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,967 shares of the real estate investment trust’s stock after selling 6,560 shares during the period. Hemington Wealth Management’s holdings in RLJ Lodging Trust were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position 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 buying an additional 1,564 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in shares of RLJ Lodging Trust during the third quarter valued at about $93,000. Aigen Investment Management LP purchased a new stake in shares of RLJ Lodging Trust during the third quarter valued at about $107,000. Metis Global Partners LLC lifted its position in shares of 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 buying an additional 3,738 shares during the last quarter. Finally, Creative Planning purchased a new stake in shares of RLJ Lodging Trust during the third quarter valued at about $275,000. 92.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on RLJ. Truist Financial decreased their price target on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, October 28th. StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price objective on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the company an “underweight” rating in a research report on Monday, December 9th. Finally, Oppenheimer increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RLJ Lodging Trust currently has an average rating of “Hold” and a consensus target price of $10.92.

RLJ Lodging Trust Stock Performance

RLJ opened at $9.52 on Thursday. The firm has a market capitalization of $1.46 billion, a PE ratio of 32.83 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 firm has a 50 day moving average of $10.03 and a two-hundred day moving average of $9.61. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.30%. RLJ Lodging Trust’s payout ratio is 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.