RLJ Lodging Trust (NYSE:RLJ) Hits New 12-Month Low at $11.00

Shares of RLJ Lodging Trust (NYSE:RLJGet Rating) hit a new 52-week low during trading on Tuesday . The stock traded as low as $11.00 and last traded at $11.02, with a volume of 3366263 shares traded. The stock had previously closed at $11.05.

A number of equities analysts recently commented on RLJ shares. Truist Financial decreased their price target on RLJ Lodging Trust to $17.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. TheStreet upgraded RLJ Lodging Trust from a “d+” rating to a “c-” rating in a report on Thursday, May 5th. Oppenheimer began coverage on RLJ Lodging Trust in a research report on Thursday, April 21st. They set an “outperform” rating and a $20.00 price target on the stock. Finally, StockNews.com downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Monday, June 6th. One research analyst has rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.33.

The company has a debt-to-equity ratio of 1.08, a current ratio of 4.10 and a quick ratio of 4.10. The stock’s fifty day simple moving average is $13.21 and its 200-day simple moving average is $13.65. The stock has a market cap of $1.78 billion, a P/E ratio of -6.54 and a beta of 1.77.

RLJ Lodging Trust (NYSE:RLJGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). RLJ Lodging Trust had a negative return on equity of 11.58% and a negative net margin of 26.67%. The company had revenue of $242.90 million for the quarter, compared to analyst estimates of $239.79 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The firm’s revenue for the quarter was up 103.2% compared to the same quarter last year. Analysts forecast that RLJ Lodging Trust will post 1.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, June 29th. RLJ Lodging Trust’s payout ratio is -2.45%.

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in RLJ Lodging Trust by 49.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,294,607 shares of the real estate investment trust’s stock worth $46,389,000 after purchasing an additional 1,091,984 shares during the last quarter. State Street Corp boosted its position in shares of RLJ Lodging Trust by 14.9% during the first quarter. State Street Corp now owns 7,993,522 shares of the real estate investment trust’s stock worth $112,627,000 after buying an additional 1,038,447 shares during the period. Balyasny Asset Management LLC bought a new position in RLJ Lodging Trust in the 3rd quarter worth approximately $11,562,000. Long Pond Capital LP acquired a new stake in RLJ Lodging Trust in the 4th quarter valued at approximately $10,806,000. Finally, Palisade Capital Management LLC NJ increased its position in RLJ Lodging Trust by 42.9% in the 4th quarter. Palisade Capital Management LLC NJ now owns 2,300,322 shares of the real estate investment trust’s stock valued at $32,043,000 after acquiring an additional 690,786 shares during the period. Hedge funds and other institutional investors own 98.00% of the company’s stock.

About RLJ Lodging Trust (NYSE:RLJ)

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio consists of 103 hotels with approximately 22,570 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.

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