RLJ Lodging Trust (NYSE:RLJ) Price Target Raised to $7.00

by · The Cerbat Gem

RLJ Lodging Trust (NYSE:RLJ – Free Report) had its target price boosted by Wells Fargo & Company from $6.00 to $7.00 in a report issued on Tuesday,Benzinga reports. They currently have an underweight rating on the real estate investment trust’s stock.

RLJ has been the subject of a number of other reports. Wall Street Zen cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. KeyCorp cut their price target on RLJ Lodging Trust from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Truist Financial lowered their price objective on RLJ Lodging Trust from $10.00 to $7.00 and set a “hold” rating for the company in a research note on Monday, June 9th. Finally, Oppenheimer dropped their price objective on RLJ Lodging Trust from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, RLJ Lodging Trust presently has an average rating of “Hold” and a consensus price target of $9.50.

View Our Latest Research Report on RLJ

RLJ Lodging Trust Stock Up 0.4%

Shares of NYSE:RLJ opened at $7.57 on Tuesday. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.18. RLJ Lodging Trust has a 52-week low of $6.16 and a 52-week high of $10.84. The company has a 50 day moving average of $7.30 and a two-hundred day moving average of $8.41. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 2.40 and a beta of 1.47.

RLJ Lodging Trust (NYSE:RLJ – Get Free Report) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $328.12 million for the quarter, compared to analysts’ expectations of $328.08 million. RLJ Lodging Trust had a net margin of 4.84% and a return on equity of 3.43%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. As a group, analysts forecast that RLJ Lodging Trust will post 1.37 earnings per share for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.93%. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently 230.77%.

Hedge Funds Weigh In On RLJ Lodging Trust

Hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. raised its stake in RLJ Lodging Trust by 0.5% during the first quarter. Donald Smith & CO. Inc. now owns 5,785,113 shares of the real estate investment trust’s stock valued at $45,645,000 after buying an additional 28,880 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of RLJ Lodging Trust by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,690,945 shares of the real estate investment trust’s stock valued at $37,685,000 after acquiring an additional 98,673 shares during the last quarter. Palisade Capital Management LP raised its position in shares of RLJ Lodging Trust by 0.4% during the 1st quarter. Palisade Capital Management LP now owns 3,071,508 shares of the real estate investment trust’s stock valued at $24,234,000 after acquiring an additional 11,235 shares in the last quarter. Woodline Partners LP lifted its stake in RLJ Lodging Trust by 192.4% during the first quarter. Woodline Partners LP now owns 2,782,181 shares of the real estate investment trust’s stock worth $21,951,000 after purchasing an additional 1,830,803 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in RLJ Lodging Trust by 58.5% during the fourth quarter. Ameriprise Financial Inc. now owns 2,398,066 shares of the real estate investment trust’s stock worth $24,486,000 after purchasing an additional 885,071 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

RLJ Lodging Trust Company Profile

(Get Free Report)

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.

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