RLJ Lodging Trust (RLJ) Downgraded by TheStreet
RLJ Lodging Trust (NYSE:RLJ) was downgraded by research analysts at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
RLJ has been the subject of several other research reports. Zacks Investment Research cut shares of RLJ Lodging Trust from a “buy” rating to a “sell” rating in a research report on Thursday, August 11th. Robert W. Baird cut shares of RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $25.00 to $24.00 in a research report on Monday, August 8th. Barclays PLC dropped their target price on shares of RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Friday, August 5th. Finally, Canaccord Genuity cut shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Friday, July 15th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $25.60.
RLJ Lodging Trust (NYSE:RLJ) traded up 0.47% during mid-day trading on Tuesday, reaching $21.53. The company had a trading volume of 964,267 shares. The stock has a market cap of $2.67 billion, a PE ratio of 13.67 and a beta of 1.05. The firm’s 50-day moving average price is $22.83 and its 200-day moving average price is $22.07. RLJ Lodging Trust has a 12 month low of $16.15 and a 12 month high of $27.52.
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RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.36. RLJ Lodging Trust had a net margin of 17.13% and a return on equity of 9.11%. The firm earned $317.11 million during the quarter, compared to analysts’ expectations of $318.47 million. During the same quarter in the previous year, the company posted $0.74 EPS. RLJ Lodging Trust’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that RLJ Lodging Trust will post $1.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend is Wednesday, September 28th. RLJ Lodging Trust’s payout ratio is presently 84.08%.
In related news, CFO Leslie D. Hale sold 10,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $23.62, for a total value of $236,200.00. Following the completion of the transaction, the chief financial officer now directly owns 283,636 shares of the company’s stock, valued at approximately $6,699,482.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in RLJ. Hillsdale Investment Management Inc. acquired a new position in RLJ Lodging Trust during the second quarter worth approximately $109,000. BNP Paribas Arbitrage SA increased its position in RLJ Lodging Trust by 5,849.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,890 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 5,791 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in RLJ Lodging Trust by 0.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,270 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 20 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in RLJ Lodging Trust during the second quarter worth approximately $176,000. Finally, Profund Advisors LLC increased its position in RLJ Lodging Trust by 4.5% in the second quarter. Profund Advisors LLC now owns 10,478 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 449 shares in the last quarter.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. The Company owns approximately 130 hotels with over 20,900 rooms, located in approximately 20 states and the District of Columbia, and an interest in a mortgage loan secured by a hotel.
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