TheStreet Lowers RLJ Lodging Trust (RLJ) to Hold
RLJ Lodging Trust (NYSE:RLJ) was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating in a report released on Tuesday.
Other research analysts have also issued reports about the company. Canaccord Genuity lowered RLJ Lodging Trust from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Friday, July 15th. Robert W. Baird lowered RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $25.00 to $24.00 in a research report on Monday, August 8th. Zacks Investment Research upgraded RLJ Lodging Trust from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, July 13th. Finally, Barclays PLC decreased their price target on RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Friday, August 5th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $25.60.
Shares of RLJ Lodging Trust (NYSE:RLJ) traded up 0.47% on Tuesday, reaching $21.53. The company had a trading volume of 964,267 shares. RLJ Lodging Trust has a 12 month low of $16.15 and a 12 month high of $27.52. The firm has a market capitalization of $2.67 billion, a PE ratio of 13.67 and a beta of 1.05. The firm’s 50 day moving average is $22.83 and its 200 day moving average is $22.07.
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RLJ Lodging Trust (NYSE:RLJ) last issued 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. The company earned $317.11 million during the quarter, compared to analyst estimates of $318.47 million. RLJ Lodging Trust had a return on equity of 9.11% and a net margin of 17.13%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share. On average, equities research analysts expect that RLJ Lodging Trust will post $1.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders 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 is Wednesday, September 28th. RLJ Lodging Trust’s dividend payout ratio is presently 84.08%.
In other RLJ Lodging Trust news, CFO Leslie D. Hale sold 10,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $23.62, for a total value of $236,200.00. Following the sale, the chief financial officer now directly owns 283,636 shares in the company, valued at $6,699,482.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.40% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of RLJ Lodging Trust by 0.6% in the second quarter. Vanguard Group Inc. now owns 18,995,912 shares of the real estate investment trust’s stock valued at $407,463,000 after buying an additional 111,452 shares during the last quarter. FMR LLC raised its position in shares of RLJ Lodging Trust by 22.4% in the second quarter. FMR LLC now owns 8,221,724 shares of the real estate investment trust’s stock valued at $176,356,000 after buying an additional 1,507,193 shares during the last quarter. Lasalle Investment Management Securities LLC raised its position in shares of RLJ Lodging Trust by 10.1% in the second quarter. Lasalle Investment Management Securities LLC now owns 6,187,742 shares of the real estate investment trust’s stock valued at $132,727,000 after buying an additional 565,401 shares during the last quarter. Shinko Asset Management Co. Ltd. raised its position in shares of RLJ Lodging Trust by 11.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 5,616,748 shares of the real estate investment trust’s stock valued at $120,479,000 after buying an additional 584,639 shares during the last quarter. Finally, State Street Corp raised its position in shares of RLJ Lodging Trust by 0.7% in the first quarter. State Street Corp now owns 4,512,035 shares of the real estate investment trust’s stock valued at $103,237,000 after buying an additional 33,445 shares during 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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