RLJ Lodging Trust (NYSE:RLJ) Hits New 1-Year High – Should You Buy?

RLJ Lodging Trust (NYSE:RLJGet Free Report)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $9.15 and last traded at $9.1250, with a volume of 789516 shares trading hands. The stock had previously closed at $8.95.

Analyst Ratings Changes

Several research analysts have recently issued reports on RLJ shares. LADENBURG THALM/SH SH assumed coverage on RLJ Lodging Trust in a research report on Thursday, March 26th. They issued a “neutral” rating and a $8.50 price target on the stock. Truist Financial cut their target price on RLJ Lodging Trust from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Weiss Ratings upgraded RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Read Our Latest Analysis on RLJ

RLJ Lodging Trust Stock Performance

The firm has a market cap of $1.39 billion, a P/E ratio of -917.50 and a beta of 1.09. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89. The stock’s 50-day moving average is $7.97 and its 200 day moving average is $7.74.

RLJ Lodging Trust (NYSE:RLJGet Free Report) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. The company had revenue of $339.98 million during the quarter, compared to the consensus estimate of $323.51 million. RLJ Lodging Trust had a return on equity of 1.37% and a net margin of 1.84%.The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 earnings per share. On average, research analysts predict that RLJ Lodging Trust will post 1.22 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Tuesday, March 31st. RLJ Lodging Trust’s dividend payout ratio is -6,000.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in RLJ Lodging Trust by 29.8% in 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 purchasing an additional 1,374 shares during the period. Federation des caisses Desjardins du Quebec raised 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 purchasing an additional 1,661 shares during the period. State of Wyoming lifted its holdings in shares of RLJ Lodging Trust by 23.6% in the third quarter. State of Wyoming now owns 9,120 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 1,741 shares in the last quarter. M&G PLC lifted its holdings in shares of RLJ Lodging Trust by 8.2% in the third quarter. M&G PLC now owns 24,355 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 1,845 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of RLJ Lodging Trust by 1.4% during the fourth quarter. Deutsche Bank AG now owns 181,568 shares of the real estate investment trust’s stock worth $1,353,000 after buying an additional 2,453 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.

About RLJ Lodging Trust

(Get Free Report)

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.

Further Reading

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