RLJ Lodging Trust (NYSE:RLJ) Hits New 52-Week High – Here’s What Happened

RLJ Lodging Trust (NYSE:RLJ)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.54 and last traded at $11.36, with a volume of 1324781 shares. The stock had previously closed at $11.43.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RLJ. LADENBURG THALM/SH SH upped their price target on shares of RLJ Lodging Trust from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Truist Financial boosted their target price on RLJ Lodging Trust from $7.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, June 12th. Barclays upped their target price on RLJ Lodging Trust from $6.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, June 1st. Wall Street Zen upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Sunday, June 7th. Finally, Wells Fargo & Company raised their price target on RLJ Lodging Trust from $7.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, June 1st. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.56.

RLJ Lodging Trust Stock Down 0.6%

The company’s 50 day moving average is $9.39 and its 200 day moving average is $8.31. The company has a market cap of $1.73 billion, a PE ratio of -1,136.00 and a beta of 1.13. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.22.

RLJ Lodging Trust (NYSE:RLJ) last released 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. The company had revenue of $339.98 million during the quarter, compared to analysts’ expectations of $323.51 million. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. As a group, analysts predict 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 will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 5.3%. RLJ Lodging Trust’s dividend payout ratio is -6,000.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

Several hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew 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 buying an additional 3,347 shares in the last quarter. Daytona Street Capital LLC bought a new stake in shares of RLJ Lodging Trust in the fourth quarter valued at about $28,000. PNC Financial Services Group Inc. raised its holdings in shares of RLJ Lodging Trust by 166.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 2,887 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in RLJ Lodging Trust during the 3rd quarter worth about $36,000. Finally, Danske Bank A S bought a new position in RLJ Lodging Trust during the 3rd quarter worth about $50,000. 92.35% of the stock is currently owned by hedge funds and other 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.