RLJ Lodging Trust Downgraded by Zacks to Neutral (RLJ)
RLJ Lodging Trust (NYSE:RLJ) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Friday. They currently have a $30.70 target price on the stock. Zacks‘s price objective suggests a potential upside of 8.52% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James raised their price target on shares of RLJ Lodging Trust from $29.00 to $30.00 in a research note on Tuesday, June 3rd. They now have an “outperform” rating on the stock. Separately, 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, June 2nd. They now have a “buy” rating on the stock. Finally, analysts at Compass Point reiterated a “buy” rating on shares of RLJ Lodging Trust in a research note on Wednesday, May 14th. They now have a $30.50 price target on the stock, up previously from $29.00. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. RLJ Lodging Trust has a consensus rating of “Buy” and an average target price of $29.15.
RLJ Lodging Trust (NYSE:RLJ) traded up 0.46% during mid-day trading on Friday, hitting $28.42. The stock had a trading volume of 990,311 shares. RLJ Lodging Trust has a one year low of $21.37 and a one year high of $28.39. The stock’s 50-day moving average is $27.4 and its 200-day moving average is $25.84. The company has a market cap of $3.461 billion and a price-to-earnings ratio of 29.94.
RLJ Lodging Trust (NYSE:RLJ) last announced its earnings results on Wednesday, May 7th. The company reported $0.43 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.41 earnings per share. RLJ Lodging Trust’s revenue was up 10.0% compared to the same quarter last year. Analysts expect that RLJ Lodging Trust will post $1.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, June 26th.
RLJ Lodging Trust (NYSE:RLJ), is a real estate investment trust (REIT).
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.