Shares of RLJ Lodging Trust (NYSE:RLJ – Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.85 and traded as high as $9.64. RLJ Lodging Trust shares last traded at $9.5750, with a volume of 1,107,960 shares trading hands.
Analyst Ratings Changes
RLJ has been the topic of several analyst reports. Wall Street Zen upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. LADENBURG THALM/SH SH started 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 lowered their price target on RLJ Lodging Trust from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Weiss Ratings raised RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. One research 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.50.
View Our Latest Stock Report on RLJ Lodging Trust
RLJ Lodging Trust Trading Up 2.8%
RLJ Lodging Trust (NYSE:RLJ – Get Free Report) last released its 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 business had revenue of $339.98 million for the quarter, compared to the consensus estimate of $323.51 million. During the same period last year, the business earned $0.31 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts predict that RLJ Lodging Trust will post 1.22 EPS for the current fiscal year.
RLJ Lodging Trust Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Tuesday, March 31st. RLJ Lodging Trust’s payout ratio is currently -6,000.00%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in RLJ. EverSource Wealth Advisors LLC raised its position in shares of RLJ Lodging Trust by 2,721.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 3,347 shares during the period. Daytona Street Capital LLC acquired a new stake in RLJ Lodging Trust during the 4th quarter worth $28,000. PNC Financial Services Group Inc. raised its holdings in RLJ Lodging Trust by 166.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 2,887 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in RLJ Lodging Trust during the 3rd quarter worth approximately $36,000. Finally, Danske Bank A S acquired a new stake in RLJ Lodging Trust during the 3rd quarter worth approximately $50,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.
About RLJ Lodging Trust
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.
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