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Equities researchers at MLV & Co
hoisted their price objective on shares of RLJ Lodging Trust (NYSE:RLJ) from $1.00 to $33.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the stock. MLV & Co
‘s price objective would indicate a potential upside of 15.95% from the stock’s previous close.

Shares of RLJ Lodging Trust (NYSE:RLJ) opened at 28.46 on Thursday. RLJ Lodging Trust has a one year low of $22.56 and a one year high of $30.01. The stock’s 50-day moving average is $28.78 and its 200-day moving average is $26.96. The company has a market cap of $3.466 billion and a P/E ratio of 29.67.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.74 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.42 by $0.32. The company had revenue of $295.00 million for the quarter, compared to the consensus estimate of $296.11 million. During the same quarter last year, the company posted $0.61 earnings per share. RLJ Lodging Trust’s revenue was up 13.1% compared to the same quarter last year. On average, analysts predict that RLJ Lodging Trust will post $1.11 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Friday, September 26th. This is a boost from RLJ Lodging Trust’s previous quarterly dividend of $0.22.

A number of other firms have also recently commented on RLJ. Analysts at Robert W. Baird raised their price target on shares of RLJ Lodging Trust from $30.00 to $32.00 in a research note on Wednesday, July 23rd. Separately, analysts at Barclays raised their price target on shares of RLJ Lodging Trust from $30.00 to $31.00 in a research note on Tuesday, July 22nd. They now have an “overweight” rating on the stock. Finally, analysts at Zacks downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “neutral” rating in a research note on Friday, June 20th. They now have a $30.70 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. RLJ Lodging Trust currently has an average rating of “Buy” and a consensus target price of $30.02.

RLJ Lodging Trust (NYSE:RLJ), is a real estate investment trust (REIT).

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