RLJ Lodging Trust (NYSE:RLJ) Sets New 12-Month High – Here’s What Happened

RLJ Lodging Trust (NYSE:RLJGet Free Report)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $9.70 and last traded at $9.70, with a volume of 23003 shares changing hands. The stock had previously closed at $9.61.

Analysts Set New Price Targets

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

Check Out Our Latest Analysis on RLJ Lodging Trust

RLJ Lodging Trust Stock Performance

The company has a market cap of $1.48 billion, a PE ratio of -975.00 and a beta of 1.08. The business’s 50-day moving average is $8.16 and its 200 day moving average is $7.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89.

RLJ Lodging Trust (NYSE:RLJGet Free Report) last issued 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 analysts’ expectations of $323.51 million. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. On average, equities research analysts predict that RLJ Lodging Trust will post 1.22 EPS for the current fiscal year.

RLJ Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Tuesday, March 31st. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently -6,000.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

A number of large investors have recently added to or reduced their stakes in RLJ. EverSource Wealth Advisors LLC grew its holdings in 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 worth $25,000 after acquiring an additional 3,347 shares during the last quarter. Daytona Street Capital LLC bought a new stake in RLJ Lodging Trust in the 4th quarter worth $28,000. PNC Financial Services Group Inc. grew its holdings in RLJ Lodging Trust by 166.8% in 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 acquiring an additional 2,887 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in RLJ Lodging Trust in the 3rd quarter worth $36,000. Finally, Danske Bank A S bought a new stake in RLJ Lodging Trust in the 3rd quarter worth $50,000. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Company Profile

(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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