RLJ Lodging Trust (NYSE:RLJ) Given Average Rating of “Reduce” by Brokerages

by · The Markets Daily

RLJ Lodging Trust (NYSE:RLJ – Get Free Report) has earned a consensus recommendation of “Reduce” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.6667.

RLJ has been the subject of several research reports. LADENBURG THALM/SH SH initiated coverage on shares of RLJ Lodging Trust in a report on Thursday, March 26th. They issued a “neutral” rating and a $8.50 target price for the company. Truist Financial dropped their target price on shares of RLJ Lodging Trust from $8.00 to $7.00 and set a “hold” rating for the company in a report on Monday, April 6th. Barclays lifted their target price on shares of RLJ Lodging Trust from $6.00 to $9.00 and gave the company an “underweight” rating in a report on Monday. Wall Street Zen downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Wells Fargo & Company boosted their price target on shares of RLJ Lodging Trust from $7.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday.

Check Out Our Latest Stock Report on RLJ

RLJ Lodging Trust Stock Up 2.6%

RLJ Lodging Trust stock opened at $10.11 on Wednesday. RLJ Lodging Trust has a fifty-two week low of $6.54 and a fifty-two week high of $10.18. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89. The firm has a 50 day moving average price of $8.39 and a 200 day moving average price of $7.95. The company has a market capitalization of $1.54 billion, a PE ratio of -1,010.50 and a beta of 1.13.

RLJ Lodging Trust (NYSE:RLJ – Get Free Report) last posted its earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The firm had revenue of $339.98 million during the quarter, compared to the consensus estimate of $323.51 million. During the same quarter last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts expect that RLJ Lodging Trust will post 1.22 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.15 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 5.9%. RLJ Lodging Trust’s payout ratio is -6,000.00%.

Hedge Funds Weigh In On RLJ Lodging Trust

Several institutional investors have recently modified their holdings of RLJ. Amundi grew its stake in shares of RLJ Lodging Trust by 12.3% in the first quarter. Amundi now owns 90,874 shares of the real estate investment trust’s stock worth $717,000 after acquiring an additional 9,983 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of RLJ Lodging Trust by 11.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 993,552 shares of the real estate investment trust’s stock worth $7,839,000 after acquiring an additional 103,065 shares in the last quarter. Norges Bank acquired a new position in shares of RLJ Lodging Trust in the second quarter worth $1,248,000. Invesco Ltd. grew its stake in shares of RLJ Lodging Trust by 47.5% in the second quarter. Invesco Ltd. now owns 1,634,179 shares of the real estate investment trust’s stock worth $11,897,000 after acquiring an additional 526,172 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of RLJ Lodging Trust by 2,721.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 3,347 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

RLJ Lodging Trust Company Profile

(Get Free Report)

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.

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