Brokerages Set RLJ Lodging Trust (NYSE:RLJ) PT at $10.61

RLJ Lodging Trust (NYSE:RLJ) has earned a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $10.8333.

Several research firms have recently weighed in on RLJ. Oppenheimer reiterated an “outperform” rating and issued a $13.00 price target (up from $10.00) on shares of RLJ Lodging Trust in a report on Thursday, June 18th. Weiss Ratings raised shares of RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Truist Financial upped 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. Zacks Research upgraded RLJ Lodging Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Finally, Wells Fargo & Company lifted their price target on RLJ Lodging Trust from $9.00 to $11.00 and gave the company an “underweight” rating in a research note on Thursday.

RLJ Lodging Trust Trading Up 1.0%

NYSE RLJ opened at $12.47 on Thursday. The firm has a market cap of $1.89 billion, a P/E ratio of -1,246.70 and a beta of 1.09. 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 $11.06 and its 200-day moving average is $9.04. RLJ Lodging Trust has a one year low of $6.54 and a one year high of $12.56.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. RLJ Lodging Trust had a return on equity of 1.37% and a net margin of 1.84%.The business had revenue of $339.98 million during the quarter, compared to analyst estimates of $323.51 million. During the same period in the previous year, the firm earned $0.31 EPS. RLJ Lodging Trust’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that RLJ Lodging Trust will post 1.26 earnings per share for the current fiscal year.

RLJ Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.8%. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently -6,000.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of RLJ. Amundi boosted its position in RLJ Lodging Trust by 11.1% during the 1st quarter. Amundi now owns 84,756 shares of the real estate investment trust’s stock worth $629,000 after acquiring an additional 8,468 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of 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 valued at $953,000 after purchasing an additional 70,834 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 in the last quarter. Sei Investments Co. lifted its position in shares of 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 in the last quarter. Finally, State of Wyoming boosted its holdings in RLJ Lodging Trust by 12.3% during 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. 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.