RLJ Lodging Trust (NYSE:RLJ) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of RLJ Lodging Trust (NYSE:RLJGet Free Report) have been assigned a consensus rating of “Reduce” from the eight analysts that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $8.6667.

A number of research analysts have weighed in on RLJ shares. Wells Fargo & Company raised their target price on shares of RLJ Lodging Trust from $7.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday. Raymond James Financial lowered shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and lifted their price target for the company from $9.00 to $11.00 in a research report on Thursday, May 28th. Wall Street Zen lowered shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Saturday. Truist Financial reduced their price target 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. Finally, LADENBURG THALM/SH SH started 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 target on the stock.

Read Our Latest Stock Report on RLJ

Institutional Trading of RLJ Lodging Trust

Several institutional investors have recently made changes to their positions in RLJ. EverSource Wealth Advisors LLC raised its position in shares of RLJ Lodging Trust by 2,721.1% during 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 buying an additional 3,347 shares during the period. Daytona Street Capital LLC purchased a new stake in shares of RLJ Lodging Trust during the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. raised its position in shares of 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 valued at $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 in the 3rd quarter valued at approximately $36,000. Finally, Danske Bank A S acquired a new stake in RLJ Lodging Trust in the 3rd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Trading Up 2.6%

RLJ opened at $10.11 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89. The company’s 50 day simple moving average is $8.39 and its two-hundred day simple moving average is $7.95. RLJ Lodging Trust has a 1-year low of $6.54 and a 1-year high of $10.18. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -1,010.50 and a beta of 1.13.

RLJ Lodging Trust (NYSE:RLJGet 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 net margin of 1.84% and a return on equity of 1.37%. The business had revenue of $339.98 million for the quarter, compared to analyst estimates of $323.51 million. During the same period last year, the company posted $0.31 EPS. The business’s revenue was up 3.6% on a year-over-year basis. Analysts expect that RLJ Lodging Trust will post 1.22 EPS for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Tuesday, March 31st. RLJ Lodging Trust’s payout ratio is presently -6,000.00%.

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.

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Analyst Recommendations for RLJ Lodging Trust (NYSE:RLJ)

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