RLJ Lodging Trust (NYSE:RLJ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
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. “
Several other equities research analysts also recently issued reports on the company. ValuEngine upgraded RLJ Lodging Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet downgraded RLJ Lodging Trust from a “b-” rating to a “c+” rating in a research report on Wednesday, November 8th. Robert W. Baird set a $23.00 target price on RLJ Lodging Trust and gave the stock a “hold” rating in a research report on Sunday, October 29th. SunTrust Banks assumed coverage on RLJ Lodging Trust in a research report on Thursday, October 19th. They set a “hold” rating and a $22.00 target price on the stock. Finally, Barclays assumed coverage on RLJ Lodging Trust in a research report on Friday, October 6th. They set an “equal weight” rating and a $24.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $24.00.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. The business had revenue of $341.26 million during the quarter, compared to analyst estimates of $347.74 million. RLJ Lodging Trust had a return on equity of 5.80% and a net margin of 12.30%. RLJ Lodging Trust’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. equities research analysts predict that RLJ Lodging Trust will post 2.31 EPS for the current year.
Several hedge funds have recently modified their holdings of RLJ. Cohen & Steers Inc. purchased a new stake in shares of RLJ Lodging Trust in the third quarter worth $89,956,000. Land & Buildings Investment Management LLC purchased a new stake in shares of RLJ Lodging Trust in the third quarter worth $77,072,000. AJO LP raised its position 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 worth $75,790,000 after buying an additional 1,987,760 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in shares of RLJ Lodging Trust in the third quarter worth $40,768,000. Finally, Citadel Advisors LLC raised its position in shares of RLJ Lodging Trust by 128.7% in the third quarter. Citadel Advisors LLC now owns 3,006,051 shares of the real estate investment trust’s stock worth $66,133,000 after buying an additional 1,691,905 shares in the last quarter. Institutional investors own 95.22% of the company’s stock.
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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