First Mercantile Trust Co. Raises Stake in RLJ Lodging Trust (NYSE:RLJ)

First Mercantile Trust Co. grew its stake in shares of RLJ Lodging Trust (NYSE:RLJ) by 18.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,416 shares of the real estate investment trust’s stock after purchasing an additional 1,970 shares during the quarter. First Mercantile Trust Co.’s holdings in RLJ Lodging Trust were worth $189,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RLJ. Prudential Financial Inc. boosted its stake in shares of RLJ Lodging Trust by 586.3% during the first quarter. Prudential Financial Inc. now owns 2,838,059 shares of the real estate investment trust’s stock valued at $43,933,000 after purchasing an additional 2,424,517 shares during the period. Alliancebernstein L.P. boosted its stake in shares of RLJ Lodging Trust by 16.1% during the first quarter. Alliancebernstein L.P. now owns 10,182,805 shares of the real estate investment trust’s stock valued at $157,630,000 after purchasing an additional 1,409,968 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in shares of RLJ Lodging Trust by 33.1% during the second quarter. Duff & Phelps Investment Management Co. now owns 2,284,477 shares of the real estate investment trust’s stock valued at $34,793,000 after purchasing an additional 567,584 shares during the period. BlackRock Inc. boosted its stake in shares of RLJ Lodging Trust by 3.0% during the first quarter. BlackRock Inc. now owns 19,096,223 shares of the real estate investment trust’s stock valued at $295,610,000 after purchasing an additional 561,635 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of RLJ Lodging Trust by 2,652.6% during the first quarter. Federated Hermes Inc. now owns 558,281 shares of the real estate investment trust’s stock valued at $8,642,000 after purchasing an additional 537,999 shares during the period. 91.67% of the stock is owned by hedge funds and other institutional investors.

Shares of RLJ stock opened at $14.35 on Wednesday. The stock has a fifty day moving average of $14.25 and a 200 day moving average of $15.17. RLJ Lodging Trust has a 52 week low of $7.75 and a 52 week high of $17.51. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -5.67 and a beta of 2.15. The company has a quick ratio of 4.65, a current ratio of 4.65 and a debt-to-equity ratio of 1.09.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Thursday, August 5th. The real estate investment trust reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.34). RLJ Lodging Trust had a negative return on equity of 16.95% and a negative net margin of 79.68%. Equities research analysts anticipate that RLJ Lodging Trust will post -0.03 earnings per share for the current year.

Separately, Zacks Investment Research raised RLJ Lodging Trust from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, July 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.00.

RLJ Lodging Trust Profile

RLJ Lodging Trust is a real estate investment trust, which engages in the ownership and acquisition of hotels. It operates through the following hotel brands: Embassy Suites, Marriott, Hilton, Hyatt House, Hyatt Place, Hilton Garden Inn, Wyndham, Renaissance, Fairfield Inn & Suites, Holiday Inn Express, Sleep Inn, Hampton Inn, Hotel Indigo, IHG, SpringHill Suites, Hyatt Centric, and Homewood Suites.

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Institutional Ownership by Quarter for RLJ Lodging Trust (NYSE:RLJ)

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