RLJ Lodging Trust (RLJ) Now Covered by SunTrust Banks, Inc.
Equities researchers at SunTrust Banks, Inc. assumed coverage on shares of RLJ Lodging Trust (NYSE:RLJ) in a research report issued on Thursday, The Fly reports. The brokerage set a “hold” rating on the real estate investment trust’s stock.
Several other research firms have also recently issued reports on RLJ. Barclays PLC started coverage on RLJ Lodging Trust in a research note on Friday, October 6th. They issued an “equal weight” rating and a $24.00 price target for the company. Zacks Investment Research raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. ValuEngine raised RLJ Lodging Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. BidaskClub cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $25.00 price target on shares of RLJ Lodging Trust in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $24.18.
Shares of RLJ Lodging Trust (NYSE:RLJ) opened at 22.48 on Thursday. The firm has a market cap of $2.78 billion, a P/E ratio of 15.50 and a beta of 1.17. The firm has a 50-day moving average price of $21.62 and a 200-day moving average price of $21.11. RLJ Lodging Trust has a 12-month low of $18.92 and a 12-month high of $25.10.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. The company had revenue of $292.28 million during the quarter, compared to analysts’ expectations of $293.16 million. During the same quarter in the prior year, the business posted $0.82 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities research analysts expect that RLJ Lodging Trust will post $1.03 earnings per share for the current fiscal year.
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In other news, Director Forgia Robert M. La acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average price of $19.73 per share, for a total transaction of $98,650.00. Following the completion of the acquisition, the director now directly owns 37,528 shares in the company, valued at approximately $740,427.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nathaniel A. Davis sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total value of $201,100.00. Following the completion of the sale, the director now owns 72,928 shares of the company’s stock, valued at approximately $1,466,582.08. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in RLJ. BlackRock Inc. lifted its holdings in shares of RLJ Lodging Trust by 4,829.7% in the first quarter. BlackRock Inc. now owns 11,399,528 shares of the real estate investment trust’s stock valued at $268,005,000 after buying an additional 11,168,284 shares during the period. AJO LP lifted its holdings in shares of RLJ Lodging Trust by 108.8% in the second quarter. AJO LP now owns 3,814,317 shares of the real estate investment trust’s stock valued at $75,790,000 after buying an additional 1,987,760 shares during the period. Citadel Advisors LLC lifted its holdings in shares of RLJ Lodging Trust by 2,706.7% in the second quarter. Citadel Advisors LLC now owns 1,314,146 shares of the real estate investment trust’s stock valued at $26,112,000 after buying an additional 1,267,324 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in shares of RLJ Lodging Trust by 49.1% in the second quarter. Duff & Phelps Investment Management Co. now owns 2,024,468 shares of the real estate investment trust’s stock valued at $40,226,000 after buying an additional 666,350 shares during the period. Finally, UBS Oconnor LLC acquired a new stake in shares of RLJ Lodging Trust in the second quarter valued at $11,200,000. Institutional investors and hedge funds own 99.24% of the company’s stock.
About RLJ Lodging Trust
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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