RLJ Lodging Trust (NYSE:RLJ – Get Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.
A number of other equities research analysts also recently weighed in on the company. Bank of America boosted their price target on RLJ Lodging Trust from $9.25 to $10.50 and gave the company an “underperform” rating in a report on Monday, July 20th. Weiss Ratings upgraded RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 24th. LADENBURG THALM/SH SH lifted their price objective on shares of RLJ Lodging Trust from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Truist Financial boosted their target price on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, June 12th. Finally, Wells Fargo & Company increased their target price on shares of RLJ Lodging Trust from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, RLJ Lodging Trust currently has a consensus rating of “Reduce” and a consensus price target of $10.83.
Check Out Our Latest Analysis on RLJ Lodging Trust
RLJ Lodging Trust Stock Down 0.7%
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) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $339.98 million for 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%.RLJ Lodging Trust’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. On average, sell-side analysts forecast that RLJ Lodging Trust will post 1.26 earnings per share for the current fiscal year.
Institutional Trading of RLJ Lodging Trust
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi boosted its position in RLJ Lodging Trust by 12.3% during the 1st quarter. Amundi now owns 90,874 shares of the real estate investment trust’s stock valued at $717,000 after purchasing an additional 9,983 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in RLJ Lodging Trust by 11.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 993,552 shares of the real estate investment trust’s stock worth $7,839,000 after buying an additional 103,065 shares during the period. Norges Bank acquired a new stake in RLJ Lodging Trust in the second quarter worth $1,248,000. Invesco Ltd. lifted its stake in RLJ Lodging Trust by 47.5% in the second quarter. Invesco Ltd. now owns 1,634,179 shares of the real estate investment trust’s stock valued at $11,897,000 after buying an additional 526,172 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of 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 valued at $25,000 after acquiring an additional 3,347 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.
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.
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