Palouse Capital Management Lowers stake in RLJ Lodging Trust (RLJ)

RLJ Lodging Trust (RLJ) : Palouse Capital Management reduced its stake in RLJ Lodging Trust by 0.75% during the most recent quarter end. The investment management company now holds a total of 130,271 shares of RLJ Lodging Trust which is valued at $3,054,855 after selling 978 shares in RLJ Lodging Trust , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.RLJ Lodging Trust makes up approximately 1.19% of Palouse Capital Management’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc reduced its stake in RLJ by selling 385,058 shares or 44.4% in the most recent quarter. The Hedge Fund company now holds 482,120 shares of RLJ which is valued at $11,305,714. RLJ Lodging Trust makes up approx 0.01% of American Century Companies Inc’s portfolio.Msi Financial Services Inc boosted its stake in RLJ in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 370 shares of RLJ Lodging Trust which is valued at $8,677.New York State Teachers Retirement System reduced its stake in RLJ by selling 700 shares or 6.09% in the most recent quarter. The Hedge Fund company now holds 10,800 shares of RLJ which is valued at $262,980.

RLJ Lodging Trust opened for trading at $23.33 and hit $23.78 on the upside on Friday, eventually ending the session at $23.74, with a gain of 1.24% or 0.29 points. The heightened volatility saw the trading volume jump to 14,25,130 shares. Company has a market cap of $2,963 M.

On the company’s financial health, RLJ Lodging Trust reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.55. The company had revenue of $275.20 million for the quarter, compared to analysts expectations of $274.19 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Many Wall Street Analysts have commented on RLJ Lodging Trust. Canaccord Genuity Downgraded RLJ Lodging Trust on Jul 15, 2016 to ” Hold”, Price Target of the shares are set at $25.RLJ Lodging Trust was Downgraded by BofA/Merrill to ” Underperform” on May 19, 2016.

RLJ Lodging Trust is a self-advised and self-administered Maryland real estate investment trust (REIT). The Company is engaged in acquiring full-service hotels. As of December 31 2014 the Company through its wholly owned subsidiaries owned 146 properties which consisted of 144 hotels with approximately 22900 rooms and two planned hotel conversions located in 21 states and the District of Columbia and an interest in one mortgage loan secured by a hotel. The Company’s hotels are located in the New York New York; Chicago Illinois; Austin Texas; Denver-Boulder Colorado; Houston Texas and the Baltimore Maryland-Washington D.C. metropolitan areas. It operates its hotels under various brands with nearly 97% of hotels operating under existing relationships with Marriott Hilton or Hyatt. The Company’s subsidiaries include RLJ LODGING TRUST L.P. RLJ LODGING TRUST LIMITED PARTNER LLC RLJ LODGING ACQUISITIONS LLC and RLJ LODGING TRUST MASTER TRS INC. among others.

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