RLJ Lodging Trust (NYSE:RLJ) Price Target Raised to $10.00 at Truist Financial

RLJ Lodging Trust (NYSE:RLJ) had its price target hoisted by Truist Financial from $7.00 to $10.00 in a research report released on Friday,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on RLJ. Wall Street Zen raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. 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. Raymond James Financial downgraded shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from $9.00 to $11.00 in a research note on Thursday, May 28th. Wells Fargo & Company lifted their target price on shares of RLJ Lodging Trust from $7.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, June 1st. Finally, Barclays raised their price target on shares of RLJ Lodging Trust from $6.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, June 1st. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, RLJ Lodging Trust has an average rating of “Reduce” and an average target price of $9.17.

RLJ Lodging Trust Trading Up 0.4%

Shares of RLJ stock opened at $11.02 on Friday. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $1.67 billion, a P/E ratio of -1,101.50 and a beta of 1.13. RLJ Lodging Trust has a 12-month low of $6.54 and a 12-month high of $11.17. The firm has a 50-day moving average price of $8.94 and a 200 day moving average price of $8.14.

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 for the quarter, beating the consensus estimate 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 firm had revenue of $339.98 million during the quarter, compared to analysts’ expectations of $323.51 million. During the same quarter last year, the company posted $0.31 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts forecast that RLJ Lodging Trust will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of RLJ Lodging Trust

Several large investors have recently added to or reduced their stakes in RLJ. Donald Smith & CO. Inc. grew its stake in shares of RLJ Lodging Trust by 23.1% during the 4th 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 purchasing an additional 2,463,189 shares during the period. Centersquare Investment Management LLC bought a new position in shares of RLJ Lodging Trust during the 4th quarter valued at approximately $13,254,000. Aegis Financial Corp purchased a new position in RLJ Lodging Trust in the 4th quarter worth approximately $9,475,000. Ameriprise Financial Inc. lifted its holdings in RLJ Lodging Trust by 286.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,618,413 shares of the real estate investment trust’s stock worth $11,783,000 after purchasing an additional 1,199,318 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in RLJ Lodging Trust by 179.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,434,974 shares of the real estate investment trust’s stock worth $10,447,000 after purchasing an additional 921,548 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.

About RLJ Lodging Trust

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.