Canaccord Genuity Reiterates Hold Rating for RLJ Lodging Trust (NYSE:RLJ)
RLJ Lodging Trust (NYSE:RLJ)‘s stock had its “hold” rating reaffirmed by research analysts at Canaccord Genuity in a research note issued to investors on Monday. They currently have a $21.00 price objective on the real estate investment trust’s stock. Canaccord Genuity’s price target would indicate a potential upside of 2.39% from the company’s previous close.
Other equities research analysts have also issued reports about the company. Janney Montgomery Scott reissued a “buy” rating and set a $28.00 price objective (up from $26.00) on shares of RLJ Lodging Trust in a research note on Monday, June 5th. ValuEngine lowered RLJ Lodging Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $25.00 target price on shares of RLJ Lodging Trust in a research report on Friday. Boenning Scattergood set a $20.00 target price on RLJ Lodging Trust and gave the stock a “sell” rating in a research report on Monday. Finally, Zacks Investment Research cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $24.63.
Shares of RLJ Lodging Trust (NYSE:RLJ) traded down 1.30% during mid-day trading on Monday, hitting $20.51. The stock had a trading volume of 2,008,349 shares. The company has a 50 day moving average price of $20.55 and a 200 day moving average price of $21.95. RLJ Lodging Trust has a 12-month low of $18.92 and a 12-month high of $25.10. The firm has a market cap of $2.54 billion, a P/E ratio of 12.98 and a beta of 1.16.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The business had revenue of $292.28 million during the quarter, compared to analyst estimates of $293.16 million. RLJ Lodging Trust had a return on equity of 8.17% and a net margin of 16.12%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.82 EPS. Equities analysts forecast that RLJ Lodging Trust will post $1.08 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of RLJ Lodging Trust by 385.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,657 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 3,697 shares during the period. James Investment Research Inc. purchased a new stake in RLJ Lodging Trust during the first quarter worth about $144,000. SG Americas Securities LLC boosted its stake in RLJ Lodging Trust by 8.0% in the first quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 615 shares during the last quarter. Paragon Capital Management Ltd purchased a new stake in RLJ Lodging Trust during the second quarter worth about $208,000. Finally, Denver Investment Advisors LLC boosted its stake in RLJ Lodging Trust by 0.9% in the second quarter. Denver Investment Advisors LLC now owns 11,000 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 100 shares during the last quarter. 99.94% of the stock is owned by institutional investors and hedge funds.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.
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