Bank of America Boosts RLJ Lodging Trust (NYSE:RLJ) Price Target to $10.50

RLJ Lodging Trust (NYSE:RLJ) had its target price upped by Bank of America from $9.25 to $10.50 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “underperform” rating on the real estate investment trust’s stock. Bank of America‘s price objective points to a potential downside of 13.82% from the stock’s current price.

A number of other research firms have also recently issued reports on RLJ. Wells Fargo & Company increased their price target on RLJ Lodging Trust from $7.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, June 1st. UBS Group set a $13.00 price objective on shares of RLJ Lodging Trust in a research note on Thursday, June 18th. Weiss Ratings upgraded shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Truist Financial increased their target price on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, June 12th. Finally, LADENBURG THALM/SH SH raised their price target on shares of RLJ Lodging Trust from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.61.

RLJ Lodging Trust Stock Up 1.5%

Shares of RLJ Lodging Trust stock opened at $12.18 on Monday. RLJ Lodging Trust has a one year low of $6.54 and a one year high of $12.24. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89. The stock’s 50-day moving average is $10.80 and its 200 day moving average is $8.90. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -1,218.40 and a beta of 1.09.

RLJ Lodging Trust (NYSE:RLJ) last released its earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. The business had revenue of $339.98 million during the quarter, compared to analysts’ expectations of $323.51 million. RLJ Lodging Trust had a return on equity of 1.37% and a net margin of 1.84%.The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. Equities research analysts anticipate that RLJ Lodging Trust will post 1.26 EPS for the current year.

Institutional Investors Weigh In On RLJ Lodging Trust

Hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its holdings in shares of RLJ Lodging Trust by 23.1% during the fourth quarter. Donald Smith & CO. Inc. now owns 13,140,744 shares of the real estate investment trust’s stock valued at $97,899,000 after acquiring an additional 2,463,189 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of RLJ Lodging Trust by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 3,844,974 shares of the real estate investment trust’s stock worth $28,650,000 after purchasing an additional 114,163 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in RLJ Lodging Trust by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,709,660 shares of the real estate investment trust’s stock valued at $27,637,000 after purchasing an additional 74,252 shares during the period. Fisher Asset Management LLC grew its position in RLJ Lodging Trust by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 3,127,412 shares of the real estate investment trust’s stock valued at $23,299,000 after purchasing an additional 94,291 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in RLJ Lodging Trust by 33.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,042,014 shares of the real estate investment trust’s stock valued at $21,903,000 after purchasing an additional 759,913 shares in the last quarter. 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.