RLJ Lodging Trust (NYSE:RLJ) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

RLJ Lodging Trust (NYSE:RLJ)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.78 and traded as high as $11.94. RLJ Lodging Trust shares last traded at $11.7050, with a volume of 1,307,186 shares traded.

Analyst Ratings Changes

A number of research firms have commented on RLJ. Weiss Ratings upgraded RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Wells Fargo & Company raised their price objective on RLJ Lodging Trust from $7.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, June 1st. Barclays lifted their price objective on RLJ Lodging Trust from $6.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, June 1st. Truist Financial upped their target price on RLJ Lodging Trust from $7.00 to $10.00 and gave the company a “hold” rating in a report on Friday, June 12th. Finally, Wall Street Zen upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Sunday, June 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.56.

RLJ Lodging Trust Trading Up 0.9%

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 firm has a market cap of $1.78 billion, a price-to-earnings ratio of -1,170.50 and a beta of 1.09. The firm’s fifty day moving average is $10.55 and its 200-day moving average is $8.78.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $339.98 million during the quarter, compared to the consensus estimate of $323.51 million. During the same period last year, the business posted $0.31 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. Equities analysts anticipate that RLJ Lodging Trust will post 1.26 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 5.1%. RLJ Lodging Trust’s dividend payout ratio is presently -6,000.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

A number of hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in shares of RLJ Lodging Trust by 29.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,374 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its stake in shares of RLJ Lodging Trust by 17.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 10,972 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 1,661 shares in the last quarter. State of Wyoming lifted its position in shares of RLJ Lodging Trust by 12.3% during the 1st quarter. State of Wyoming now owns 17,904 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 1,963 shares during the period. Deutsche Bank AG lifted its position in shares of RLJ Lodging Trust by 1.4% during the 4th quarter. Deutsche Bank AG now owns 181,568 shares of the real estate investment trust’s stock valued at $1,353,000 after acquiring an additional 2,453 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in RLJ Lodging Trust by 2,721.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 3,347 shares in the last quarter. 92.35% of the stock is currently 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.