RLJ Lodging Trust (NYSE:RLJ) Rating Increased to Strong-Buy at Zacks Research

RLJ Lodging Trust (NYSE:RLJGet Free Report) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms also recently commented on RLJ. Wall Street Zen upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Sunday, June 7th. Barclays boosted their price target on RLJ Lodging Trust from $6.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, June 1st. Weiss Ratings upgraded RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Truist Financial lifted their price objective on 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 $7.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, RLJ Lodging Trust has an average rating of “Hold” and an average target price of $10.56.

View Our Latest Research Report on RLJ Lodging Trust

RLJ Lodging Trust Stock Down 2.0%

Shares of NYSE:RLJ opened at $11.40 on Monday. The stock’s 50-day moving average price is $10.19 and its two-hundred day moving average price is $8.62. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.22. RLJ Lodging Trust has a 12-month low of $6.54 and a 12-month high of $12.03. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -1,140.30 and a beta of 1.09.

RLJ Lodging Trust (NYSE:RLJGet Free Report) last announced 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 for the quarter, compared to analyst estimates of $323.51 million. During the same period in the prior year, the firm posted $0.31 EPS. The company’s revenue was up 3.6% on a year-over-year basis. On average, research analysts forecast that RLJ Lodging Trust will post 1.26 EPS for the current year.

Institutional Trading of RLJ Lodging Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in 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 acquiring an additional 3,347 shares during the last quarter. Daytona Street Capital LLC bought a new stake in shares of RLJ Lodging Trust in the 4th quarter worth about $28,000. PNC Financial Services Group Inc. raised its stake in shares of 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 valued at $34,000 after purchasing an additional 2,887 shares in the last quarter. Danske Bank A S acquired a new stake in shares of RLJ Lodging Trust in the 3rd quarter valued at about $50,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of RLJ Lodging Trust during the fourth quarter worth about $51,000. Institutional investors own 92.35% of the company’s stock.

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.

Further Reading

Analyst Recommendations for RLJ Lodging Trust (NYSE:RLJ)

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