RLJ Lodging Trust (RLJ) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 5,205,157 to 4,477,192 shares, with 4 days to go before the expiry. The short open interest has decreased by -14%, amounting to a reduction of -727,965 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 3.7% of the float of the company. The average daily volume of the stock is 1,066,855 shares. The short interest information was released on Wednesday Aug 24th after the market close.
RLJ Lodging Trust (NYSE:RLJ): The stock opened at $23.34 on Wednesday but the bulls could not build on the opening and the stock topped out at $23.38 for the day. The stock traded down to $22.94 during the day, due to lack of any buying support eventually closed down at $23.03 with a loss of -1.29% for the day. The stock had closed at $23.33 on the previous day. The total traded volume was 1,193,443 shares.
In a related news,The officer (COO and CFO) of Rlj Lodging Trust, Hale Leslie D. sold 10,000 shares at $23.62 on August 1, 2016. The Insider selling transaction had a total value worth of $236,200. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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 22,900 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 Companys 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 Companys 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.