Prudential Financial Inc. Has $17.82 Million Holding in RLJ Lodging Trust (RLJ)

Prudential Financial Inc. Has $17.82 Million Holding in RLJ Lodging Trust (RLJ)

Prudential Financial Inc. raised its position in RLJ Lodging Trust (NYSE:RLJ) by 9.9% during the first quarter, Holdings Channel reports. The institutional investor owned 757,860 shares of the real estate investment trust’s stock after buying an additional 68,370 shares during the period. Prudential Financial Inc.’s holdings in RLJ Lodging Trust were worth $17,817,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of RLJ Lodging Trust during the fourth quarter worth $9,167,000. Credit Agricole S A raised its position in shares of RLJ Lodging Trust by 44.9% in the fourth quarter. Credit Agricole S A now owns 95,208 shares of the real estate investment trust’s stock worth $2,331,000 after buying an additional 29,508 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of RLJ Lodging Trust by 7.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 280,153 shares of the real estate investment trust’s stock worth $6,784,000 after buying an additional 20,043 shares in the last quarter. Systematic Financial Management LP raised its position in shares of RLJ Lodging Trust by 0.3% in the fourth quarter. Systematic Financial Management LP now owns 73,620 shares of the real estate investment trust’s stock worth $1,803,000 after buying an additional 190 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new position in shares of RLJ Lodging Trust during the fourth quarter worth $224,000.

RLJ Lodging Trust (NYSE:RLJ) remained flat at $20.73 during mid-day trading on Monday. 458,251 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $21.31 and a 200 day moving average of $22.85. RLJ Lodging Trust has a 52-week low of $18.92 and a 52-week high of $25.10. The company has a market capitalization of $2.57 billion, a P/E ratio of 13.12 and a beta of 1.14.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Monday, May 8th. The real estate investment trust reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. RLJ Lodging Trust had a return on equity of 9.15% and a net margin of 17.07%. The company had revenue of $260.20 million for the quarter, compared to the consensus estimate of $263.57 million. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts forecast that RLJ Lodging Trust will post $1.11 EPS for the current fiscal year.

Several analysts have weighed in on the company. Barclays PLC set a $23.00 target price on RLJ Lodging Trust and gave the company a “sell” rating in a report on Tuesday, February 14th. Boenning Scattergood reissued an “underperform” rating on shares of RLJ Lodging Trust in a report on Wednesday, April 12th. Zacks Investment Research raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Saturday, February 25th. Finally, ValuEngine lowered RLJ Lodging Trust from a “strong-buy” rating to a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.78.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RLJ”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding RLJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RLJ Lodging Trust (NYSE:RLJ).

Related posts

Leave a Comment