RLJ Lodging Trust (NYSE:RLJ) Stock Rating Lowered by Wall Street Zen

RLJ Lodging Trust (NYSE:RLJ) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

RLJ has been the subject of a number of other research reports. LADENBURG THALM/SH SH started coverage on shares of RLJ Lodging Trust in a research note on Thursday, March 26th. They issued a “neutral” rating and a $8.50 price objective for the company. Raymond James Financial cut shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $9.00 to $11.00 in a research note on Thursday. Truist Financial dropped their price objective on shares of RLJ Lodging Trust from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Weiss Ratings upgraded shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $7.83.

RLJ Lodging Trust Price Performance

NYSE:RLJ opened at $9.74 on Friday. The stock has a market cap of $1.48 billion, a P/E ratio of -973.50 and a beta of 1.08. RLJ Lodging Trust has a one year low of $6.54 and a one year high of $10.10. The company has a fifty day moving average price of $8.35 and a 200 day moving average price of $7.93. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The company had revenue of $339.98 million during the quarter, compared to analysts’ expectations of $323.51 million. During the same quarter in the prior year, the company posted $0.31 EPS. The business’s revenue was up 3.6% on a year-over-year basis. Analysts anticipate that RLJ Lodging Trust will post 1.22 earnings per share for the current year.

Institutional Investors Weigh In On RLJ Lodging Trust

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of RLJ Lodging Trust by 2,721.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 3,347 shares in the last quarter. Daytona Street Capital LLC acquired a new stake in shares of RLJ Lodging Trust during the 4th quarter worth about $28,000. PNC Financial Services Group Inc. increased its position in shares of RLJ Lodging Trust by 166.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 2,887 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of RLJ Lodging Trust during the 3rd quarter worth about $36,000. Finally, Danske Bank A S acquired a new stake in shares of RLJ Lodging Trust during the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 92.35% of the company’s stock.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.