Raymond James Reiterates Outperform Rating for RLJ Lodging Trust (RLJ)
RLJ Lodging Trust (NYSE:RLJ)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James in a research note issued to investors on Tuesday. They currently have a $30.00 price objective on the stock, up from their previous price objective of $29.00. Raymond James’ price objective points to a potential upside of 8.19% from the company’s current price.
RLJ Lodging Trust (NYSE:RLJ) traded down 0.22% during mid-day trading on Tuesday, hitting $27.67. 273,328 shares of the company’s stock traded hands. RLJ Lodging Trust has a 1-year low of $20.53 and a 1-year high of $28.07. The stock has a 50-day moving average of $26.81 and a 200-day moving average of $25.50. The company has a market cap of $3.370 billion and a P/E ratio of 29.34.
RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.30. The company had revenue of $236.40 million for the quarter, compared to the consensus estimate of $232.17 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Analysts expect that RLJ Lodging Trust will post $1.15 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Compass Point raised their price target on shares of RLJ Lodging Trust from $30.50 to $32.50 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of RLJ Lodging Trust from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 22nd. They now have a $29.30 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. RLJ Lodging Trust currently has a consensus rating of “Buy” and an average price target of $28.98.
RLJ Lodging Trust (NYSE:RLJ) is a real estate investment trust (REIT).
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