RLJ Lodging Trust (RLJ) Lifted to “Hold” at Zacks Investment Research
RLJ Lodging Trust (NYSE:RLJ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “RLJ Lodging Trust is a REIT focused on investing primarily in premium-branded, focused-service, and compact full-service hotels. It plans to own hotels concentrated in urban and dense suburban markets. “
RLJ has been the topic of a number of other research reports. TheStreet downgraded RLJ Lodging Trust from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Janney Montgomery Scott initiated coverage on RLJ Lodging Trust in a research note on Monday, September 26th. They issued a “buy” rating and a $21.90 price target on the stock. Barclays PLC cut 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. Robert W. Baird downgraded RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $24.00 in a research note on Monday, August 8th. Finally, Canaccord Genuity downgraded RLJ Lodging Trust from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research note on Friday, July 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. RLJ Lodging Trust currently has a consensus rating of “Hold” and an average target price of $25.26.
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Shares of RLJ Lodging Trust (NYSE:RLJ) traded down 1.61% during mid-day trading on Tuesday, reaching $20.77. The company had a trading volume of 129,249 shares. The company has a 50 day moving average price of $21.99 and a 200 day moving average price of $21.96. RLJ Lodging Trust has a one year low of $16.15 and a one year high of $27.26. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 13.19 and a beta of 1.12.
RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.36. RLJ Lodging Trust had a return on equity of 9.11% and a net margin of 17.13%. The firm had revenue of $317.11 million for the quarter, compared to the consensus estimate of $318.47 million. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts anticipate that RLJ Lodging Trust will post $1.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.32 annualized dividend and a dividend yield of 6.25%. RLJ Lodging Trust’s payout ratio is 84.08%.
In other news, CFO Leslie D. Hale sold 10,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $23.62, for a total transaction of $236,200.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new position in RLJ Lodging Trust during the second quarter valued at $109,000. BNP Paribas Arbitrage SA boosted 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 valued at $126,000 after buying an additional 5,791 shares during the last quarter. Independent Portfolio Consultants Inc. boosted 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 valued at $134,000 after buying an additional 20 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in RLJ Lodging Trust during the second quarter valued at $176,000. Finally, Profund Advisors LLC boosted 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 valued at $225,000 after buying an additional 449 shares during the last quarter.
About RLJ Lodging Trust
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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