Miss RLJ's $21.60 Secondary But Think It's A Buy At $20?

Looking back to 169 days ago, RLJ Lodging Trust (NYSE: RLJ) priced a 13,800,000 share secondary stock offering at $21.60 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Thursday, the stock is now 5.9% higher than the offering price. It should be noted that investors at the secondary have collected $0.41/share in dividends since the time of their purchase, so they ...