RLJ Lodging Trust (RLJ) Upgraded by Canaccord Genuity to “Buy”
RLJ Lodging Trust (NYSE:RLJ) was upgraded by research analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research note issued on Friday, Marketbeat.com reports.
RLJ has been the topic of a number of other research reports. Boenning Scattergood reissued a “sell” rating and issued a $19.50 target price on shares of RLJ Lodging Trust in a report on Wednesday, June 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $25.00 target price on shares of RLJ Lodging Trust in a report on Friday, August 4th. BidaskClub cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Janney Montgomery Scott reissued a “buy” rating and issued a $28.00 target price (up previously from $26.00) on shares of RLJ Lodging Trust in a report on Monday, June 5th. Finally, ValuEngine cut shares of RLJ Lodging Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $24.22.
RLJ Lodging Trust (NYSE RLJ) traded up 3.43% during mid-day trading on Friday, hitting $21.09. The stock had a trading volume of 3,810,312 shares. RLJ Lodging Trust has a 12-month low of $18.92 and a 12-month high of $25.10. The company has a 50-day moving average of $20.31 and a 200-day moving average of $21.31. The firm has a market cap of $2.61 billion, a PE ratio of 14.54 and a beta of 1.17.
RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.16%. The firm had revenue of $292.28 million for the quarter, compared to analysts’ expectations of $293.16 million. During the same quarter last year, the company posted $0.82 earnings per share. RLJ Lodging Trust’s revenue was down 7.8% on a year-over-year basis. Analysts expect that RLJ Lodging Trust will post $0.98 earnings per share for the current year.
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In other news, Director Forgia Robert M. La bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average price of $19.73 per share, with a total value of $98,650.00. Following the completion of the acquisition, the director now directly owns 37,528 shares in the company, valued at $740,427.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nathaniel A. Davis sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $20.11, for a total value of $201,100.00. Following the sale, the director now directly owns 72,928 shares in the company, valued at approximately $1,466,582.08. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. raised its holdings in RLJ Lodging Trust by 385.1% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,657 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 3,697 shares in the last quarter. SG Americas Securities LLC raised its holdings in RLJ Lodging Trust by 8.0% during the first quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock worth $196,000 after purchasing an additional 615 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in RLJ Lodging Trust by 41.4% during the first quarter. Daiwa Securities Group Inc. now owns 9,900 shares of the real estate investment trust’s stock worth $233,000 after purchasing an additional 2,900 shares in the last quarter. Paragon Capital Management Ltd bought a new stake in RLJ Lodging Trust during the second quarter worth approximately $208,000. Finally, New York State Teachers Retirement System raised its holdings in RLJ Lodging Trust by 0.9% during the first quarter. New York State Teachers Retirement System now owns 10,800 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 100 shares in the last quarter.
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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