Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of RLJ Lodging Trust (NYSE:RLJ) by 2.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 101,429 shares of the real estate investment trust’s stock after acquiring an additional 2,616 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RLJ Lodging Trust were worth $2,234,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of RLJ. Russell Investments Group Ltd. grew its holdings in shares of RLJ Lodging Trust by 51.8% during the third quarter. Russell Investments Group Ltd. now owns 1,211,785 shares of the real estate investment trust’s stock worth $26,671,000 after purchasing an additional 413,649 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of RLJ Lodging Trust by 21.6% during the second quarter. Duff & Phelps Investment Management Co. now owns 2,124,068 shares of the real estate investment trust’s stock worth $46,836,000 after purchasing an additional 376,600 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in shares of RLJ Lodging Trust during the second quarter worth about $8,269,000. Caerus Investors LLC grew its holdings in shares of RLJ Lodging Trust by 51.2% during the second quarter. Caerus Investors LLC now owns 963,500 shares of the real estate investment trust’s stock worth $21,245,000 after purchasing an additional 326,160 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of RLJ Lodging Trust during the third quarter worth about $6,542,000.
RLJ has been the subject of several recent analyst reports. Zacks Investment Research raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Saturday. ValuEngine lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. Wells Fargo & Co reissued a “hold” rating on shares of RLJ Lodging Trust in a report on Wednesday, November 14th. TheStreet raised RLJ Lodging Trust from a “c+” rating to a “b-” rating in a report on Tuesday, September 25th. Finally, Robert W. Baird raised RLJ Lodging Trust from a “neutral” rating to an “outperform” rating in a report on Friday, September 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.83.
RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Tuesday, November 6th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.17). The firm had revenue of $447.00 million during the quarter, compared to analysts’ expectations of $450.68 million. RLJ Lodging Trust had a return on equity of 5.34% and a net margin of 9.23%. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. Sell-side analysts anticipate that RLJ Lodging Trust will post 2.2 earnings per share for the current fiscal year.
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About RLJ Lodging Trust
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 consists of 154 hotels with approximately 30,000 rooms located in 26 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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