RLJ Lodging Trust (NYSE:RLJ – Get Free Report) was upgraded by equities researchers at Wells Fargo & Company to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.
A number of other research analysts have also recently weighed in on RLJ. Raymond James Financial cut RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $9.00 to $11.00 in a report on Thursday, May 28th. LADENBURG THALM/SH SH lifted their price objective on RLJ Lodging Trust from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Weiss Ratings upgraded RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Bank of America boosted their target price on RLJ Lodging Trust from $9.25 to $10.50 and gave the stock an “underperform” rating in a report on Monday, July 20th. Finally, Zacks Research raised shares of RLJ Lodging Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, RLJ Lodging Trust has a consensus rating of “Hold” and a consensus price target of $10.83.
Check Out Our Latest Research Report on RLJ
RLJ Lodging Trust Price Performance
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) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $339.98 million during the quarter, compared to the consensus estimate of $323.51 million. During the same period in the previous year, the firm earned $0.31 earnings per share. RLJ Lodging Trust’s revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that RLJ Lodging Trust will post 1.26 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in shares of RLJ Lodging Trust by 29.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,374 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its stake in shares of RLJ Lodging Trust by 17.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 10,972 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 1,661 shares in the last quarter. State of Wyoming grew its stake in shares of RLJ Lodging Trust by 12.3% in the first quarter. State of Wyoming now owns 17,904 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 1,963 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of RLJ Lodging Trust by 1.4% during the 4th quarter. Deutsche Bank AG now owns 181,568 shares of the real estate investment trust’s stock valued at $1,353,000 after buying an additional 2,453 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings 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. 92.35% of the stock is owned by hedge funds and other institutional investors.
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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