Duff Phelps Investment Management Co buys $32,487,572 stake in RLJ Lodging Trust (RLJ)

RLJ Lodging Trust (RLJ) : Duff Phelps Investment Management Co scooped up 25,484 additional shares in RLJ Lodging Trust during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 1,567,933 shares of RLJ Lodging Trust which is valued at $32,487,572.RLJ Lodging Trust makes up approximately 0.47% of Duff Phelps Investment Management Co’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co sold out all of its stake in RLJ during the most recent quarter. The investment firm sold 3,250 shares of RLJ which is valued $67,600.Independent Portfolio Consultants reduced its stake in RLJ by selling 345 shares or 5.5% in the most recent quarter. The Hedge Fund company now holds 5,925 shares of RLJ which is valued at $123,299. RLJ Lodging Trust makes up approx 0.04% of Independent Portfolio Consultants’s portfolio.

RLJ Lodging Trust closed down -0.21 points or -1.00% at $20.72 with 4,95,309 shares getting traded on Friday. Post opening the session at $21.04, the shares hit an intraday low of $20.65 and an intraday high of $21.07 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, RLJ Lodging Trust reported $0.82 EPS for the quarter, based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus estimate of $0.82. The company had revenue of $317.11 million for the quarter, compared to analysts expectations of $317.18 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.

Many Wall Street Analysts have commented on RLJ Lodging Trust. Shares were Downgraded by Robert W. Baird on Aug 8, 2016 to ” Neutral” and Lowered the Price Target to $ 24 from a previous price target of $25 .

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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