RLJ Lodging Trust (NYSE: RLJ) Receives Consensus Rating of “Hold” from Analysts

RLJ Lodging Trust (NYSE:RLJ – Get Rating) received an average recommendation of “Hold” from the seven analysts who currently cover the company, MarketBeat.com reports. One investment analyst has assigned the stock a sell rating, one has assigned a hold rating and three have issued a buy rating for the company. The average 1-year target price among brokerages that have reported on the stock in the past year is $17.20.

A number of analysts have weighed in on RLJ shares. StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a Monday, June 6 report. Truist Financial lowered its price target on RLJ Lodging Trust to $17.00 and set a “na” rating for the company in a Wednesday, May 18 report. Barclays cut its price target on RLJ Lodging Trust from $18.00 to $15.00 and set an “equal weight” rating for the company in a Thursday July 7 report. TheStreet upgraded RLJ Lodging Trust from a “d+” rating to a “c-” rating in a report on Thursday, May 5. Finally, KeyCorp reduced its price target on RLJ Lodging Trust from $20.00 to $16.00 and set an “overweight” rating for the company in a Tuesday, June 28 report.

RLJ Lodging Trust Stock down 1.8%

NYSE RLJ shares opened at $11.79 on Friday. The stock has a 50-day moving average price of $12.18 and a 200-day moving average price of $13.33. The company has a debt ratio of 1.08, a quick ratio of 4.10 and a current ratio of 4.10. The company has a market capitalization of $1.97 billion, a price-earnings ratio of -7.23 and a beta of 1.78. RLJ Lodging Trust has a 52-week low of $10.19 and a 52-week high of $16.22.

RLJ Lodging Trust (NYSE:RLJ – Get Rating) last reported results on Wednesday, May 4. The real estate investment trust reported ($0.13) earnings per share for the quarter, missing analyst consensus estimates of $0.17 per ($0.30). The company posted revenue of $242.90 million for the quarter, compared to $239.79 million expected by analysts. RLJ Lodging Trust had a negative return on equity of 11.58% and a negative net margin of 26.67%. The company’s quarterly revenue increased 103.2% year over year. In the same quarter of the previous year, the company achieved EPS of ($0.18). Sell-side analysts expect RLJ Lodging Trust to post earnings per share of 1.26 for the current year.

RLJ Lodging Trust announces dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15. Investors of record on Thursday, June 30 received a dividend of $0.01. This represents an annualized dividend of $0.04 and a dividend yield of 0.34%. The ex-dividend date was Wednesday, June 29. RLJ Lodging Trust’s payout rate is -2.45%.

Hedge funds weigh on RLJ Lodging Trust

Several hedge funds have recently changed their positions in RLJ. Charles Schwab Investment Management Inc. increased its position in RLJ Lodging Trust shares by 49.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,294,607 shares of the real estate investment trust worth $46,389,000 after acquiring an additional 1,091,984 shares during the period. State Street Corp increased its position in RLJ Lodging Trust by 14.9% during the 1st quarter. State Street Corp now owns 7,993,522 shares of the real estate investment trust worth $112,627,000 after purchasing an additional 1,038,447 shares during the period. Long Pond Capital LP acquired a new stake in RLJ Lodging Trust during Q4 valued at approximately $10,806,000. Palisade Capital Management LLC NJ increased its position in RLJ Lodging Trust by 42.9% during the fourth quarter. Palisade Capital Management LLC NJ now owns 2,300,322 shares of the real estate investment trust worth $32,043,000 after purchasing an additional 690,786 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in RLJ Lodging Trust during the 4th quarter with a value of approximately $8,326,000. 98.00% of the shares are held by institutional investors and hedge funds.

RLJ Lodging Trust Company Profile

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RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust that primarily owns branded, upscale, high-margin, focused-service and full-service compact hotels. The Company’s portfolio consists of 103 hotels with approximately 22,570 rooms, located in 23 states and the District of Columbia and an interest in one unconsolidated hotel with 171 rooms.

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