RLJ Lodging Trust (NYSE:RLJ) Receives $8.67 Average PT from Brokerages

Shares of RLJ Lodging Trust (NYSE:RLJ) have been given an average rating of “Reduce” by the eight brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $8.6667.

RLJ has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of RLJ Lodging Trust in a report on Thursday, March 26th. They set a “neutral” rating and a $8.50 price objective for the company. 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 report on Monday, April 6th. Wells Fargo & Company lifted their price objective on shares of RLJ Lodging Trust from $7.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, June 1st. Wall Street Zen raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Weiss Ratings raised shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th.

RLJ Lodging Trust Stock Performance

NYSE RLJ opened at $10.60 on Wednesday. RLJ Lodging Trust has a 52-week low of $6.54 and a 52-week high of $10.70. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89. The company has a market capitalization of $1.61 billion, a P/E ratio of -1,059.60 and a beta of 1.13. The company has a fifty day moving average of $8.61 and a 200-day moving average of $8.03.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $323.51 million. During the same period in the previous year, the firm posted $0.31 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts predict that RLJ Lodging Trust will post 1.22 EPS for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Tuesday, March 31st. RLJ Lodging Trust’s payout ratio is currently -6,000.00%.

Institutional Trading of RLJ Lodging Trust

Several hedge funds have recently added to or reduced their stakes in the business. Amundi lifted its stake in RLJ Lodging Trust by 11.1% in the first quarter. Amundi now owns 84,756 shares of the real estate investment trust’s stock worth $629,000 after purchasing an additional 8,468 shares during the last quarter. Quantinno Capital Management LP lifted its stake in RLJ Lodging Trust by 123.0% in the first quarter. Quantinno Capital Management LP now owns 128,442 shares of the real estate investment trust’s stock worth $953,000 after purchasing an additional 70,834 shares during the last quarter. Renaissance Technologies LLC lifted its stake in RLJ Lodging Trust by 2,111.3% in the first quarter. Renaissance Technologies LLC now owns 299,232 shares of the real estate investment trust’s stock worth $2,220,000 after purchasing an additional 285,700 shares during the last quarter. Sei Investments Co. lifted its stake in RLJ Lodging Trust by 122.5% in the first quarter. Sei Investments Co. now owns 251,168 shares of the real estate investment trust’s stock worth $1,864,000 after purchasing an additional 138,259 shares during the last quarter. Finally, State of Wyoming lifted its stake in RLJ Lodging Trust by 12.3% in the first quarter. State of Wyoming now owns 17,904 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 1,963 shares during the last quarter. 92.35% of the stock is owned by institutional investors.

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.