RLJ Lodging Trust (NYSE:RLJ) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $25.00 price objective on the real estate investment trust’s stock. KeyCorp’s target price indicates a potential upside of 9.75% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Canaccord Genuity raised shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $21.00 to $23.00 in a report on Friday, September 8th. ValuEngine raised shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. TheStreet downgraded shares of RLJ Lodging Trust from a “b-” rating to a “c+” rating in a report on Wednesday, November 8th. Barclays initiated coverage on shares of RLJ Lodging Trust in a report on Friday, October 6th. They set an “equal weight” rating and a $24.00 price target on the stock. Finally, Robert W. Baird set a $23.00 price target on shares of RLJ Lodging Trust and gave the company a “hold” rating in a report on Sunday, October 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. RLJ Lodging Trust has a consensus rating of “Hold” and an average target price of $23.36.
Shares of RLJ Lodging Trust (RLJ) traded up $0.72 during trading hours on Tuesday, reaching $22.78. 1,387,400 shares of the company’s stock traded hands, compared to its average volume of 1,536,284. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.06 and a quick ratio of 2.06. RLJ Lodging Trust has a twelve month low of $19.12 and a twelve month high of $25.01. The stock has a market capitalization of $3,858.51, a P/E ratio of 9.04, a P/E/G ratio of 1.94 and a beta of 1.13.
Several institutional investors have recently added to or reduced their stakes in the company. AXA raised its position in shares of RLJ Lodging Trust by 10.9% during the third quarter. AXA now owns 321,399 shares of the real estate investment trust’s stock valued at $7,071,000 after buying an additional 31,678 shares during the last quarter. New Mexico Educational Retirement Board raised its position in shares of RLJ Lodging Trust by 40.7% during the third quarter. New Mexico Educational Retirement Board now owns 24,877 shares of the real estate investment trust’s stock valued at $547,000 after buying an additional 7,202 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of RLJ Lodging Trust by 40.0% during the third quarter. Public Employees Retirement System of Ohio now owns 224,808 shares of the real estate investment trust’s stock valued at $4,946,000 after buying an additional 64,213 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of RLJ Lodging Trust by 88.5% during the third quarter. GSA Capital Partners LLP now owns 23,367 shares of the real estate investment trust’s stock valued at $514,000 after buying an additional 10,971 shares during the last quarter. Finally, Dean Investment Associates LLC bought a new stake in shares of RLJ Lodging Trust during the third quarter valued at approximately $559,000. Hedge funds and other institutional investors own 94.38% of the company’s stock.
About RLJ Lodging Trust
RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.
