RLJ Lodging Trust (NYSE:RLJ – Get Free Report) had its target price lifted by research analysts at Truist Financial from $7.00 to $10.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective would suggest a potential downside of 9.46% from the company’s current price.
Several other research analysts have also commented on RLJ. Weiss Ratings raised RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. Wells Fargo & Company increased 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, June 1st. Raymond James Financial lowered RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and raised their price target for the stock from $9.00 to $11.00 in a report on Thursday, May 28th. Finally, 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. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $9.17.
Read Our Latest Analysis on RLJ Lodging Trust
RLJ Lodging Trust Stock Up 0.7%
RLJ Lodging Trust (NYSE:RLJ – Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $323.51 million. During the same quarter in the previous year, the firm earned $0.31 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts expect that RLJ Lodging Trust will post 1.22 EPS for the current year.
Hedge Funds Weigh In On RLJ Lodging Trust
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amundi increased its position in RLJ Lodging Trust by 11.1% during the first quarter. Amundi now owns 84,756 shares of the real estate investment trust’s stock worth $629,000 after buying an additional 8,468 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of RLJ Lodging Trust by 123.0% in the first quarter. Quantinno Capital Management LP now owns 128,442 shares of the real estate investment trust’s stock valued at $953,000 after acquiring an additional 70,834 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of RLJ Lodging Trust by 2,111.3% in the first quarter. Renaissance Technologies LLC now owns 299,232 shares of the real estate investment trust’s stock valued at $2,220,000 after acquiring an additional 285,700 shares in the last quarter. Sei Investments Co. boosted its stake in shares of RLJ Lodging Trust by 122.5% during the first quarter. Sei Investments Co. now owns 251,168 shares of the real estate investment trust’s stock valued at $1,864,000 after acquiring an additional 138,259 shares during the last quarter. Finally, State of Wyoming increased its position in RLJ Lodging Trust by 12.3% during the 1st quarter. State of Wyoming now owns 17,904 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 1,963 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.
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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