Share on StockTwits

Shares of RLJ Lodging Trust (NYSE:RLJ) hit a new 52-week high during mid-day trading on Tuesday , StockRatingsNetwork reports. The company traded as high as $30.21 and last traded at $30.10, with a volume of 230,593 shares trading hands. The stock had previously closed at $29.81.

A number of analysts have recently weighed in on RLJ shares. Analysts at Raymond James reiterated an “outperform” rating on shares of RLJ Lodging Trust in a research note on Friday, August 8th. They now have a $31.00 price target on the stock, up previously from $30.00. Separately, analysts at MLV & Co
raised their price target on shares of RLJ Lodging Trust to $33.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Finally, 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $30.64.

The stock has a 50-day moving average of $29.12 and a 200-day moving average of $27.51. The company has a market cap of $3.953 billion and a P/E ratio of 28.91.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts expect that RLJ Lodging Trust will post $1.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, September 26th. This is an increase from RLJ Lodging Trust’s previous quarterly dividend of $0.22.

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

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.