RLJ Lodging Trust (NYSE:RLJ – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $12.94 and last traded at $12.7780, with a volume of 45,925 shares changing hands. The stock had previously closed at $12.54.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Barclays increased their price objective on RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Tuesday, October 13th. Zacks Research raised shares of RLJ Lodging Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 29th. Oppenheimer restated an “outperform” rating and issued a $15.00 target price (up from $13.00) on shares of RLJ Lodging Trust in a report on Tuesday. Weiss Ratings raised shares of RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Finally, Raymond James Financial downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “market perform” rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.06.
Get Our Latest Analysis on RLJ
RLJ Lodging Trust Trading Up 3.1%
The business has a 50 day simple moving average of $11.55 and a two-hundred day simple moving average of $10.05. The company has a current ratio of 3.01, a quick ratio of 5.71 and a debt-to-equity ratio of 1.23. The company has a market cap of $2.02 billion, a PE ratio of 221.20, a price-to-earnings-growth ratio of 2.20 and a beta of 1.14.
RLJ Lodging Trust (NYSE:RLJ – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The real estate investment trust reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. RLJ Lodging Trust had a return on equity of 2.00% and a net margin of 2.55%. The business had revenue of $354.48 million during the quarter, compared to the consensus estimate of $343.24 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts forecast that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.
RLJ Lodging Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 4.5%. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 1,000.00%.
Institutional Investors Weigh In On RLJ Lodging Trust
A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of RLJ Lodging Trust by 33.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,837 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 957 shares during the period. PNC Financial Services Group Inc. raised its position in shares of RLJ Lodging Trust by 29.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,374 shares during the period. Choreo LLC boosted its holdings in RLJ Lodging Trust by 3.1% in the third quarter. Choreo LLC now owns 46,203 shares of the real estate investment trust’s stock valued at $511,000 after acquiring an additional 1,387 shares during the last quarter. Cim Investment Management Inc. boosted its holdings in RLJ Lodging Trust by 7.3% in the second quarter. Cim Investment Management Inc. now owns 21,889 shares of the real estate investment trust’s stock valued at $259,000 after acquiring an additional 1,485 shares during the last quarter. Finally, Ethic Inc. boosted its holdings in RLJ Lodging Trust by 16.9% in the third quarter. Ethic Inc. now owns 12,049 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 1,745 shares during the last quarter. 92.35% of the stock is currently owned by hedge funds and other institutional investors.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a real estate investment trust that owns a portfolio of hotels in the United States. The company focuses primarily on premium-branded, compact full-service hotels, which typically offer lodging and amenities such as dining and meeting facilities. Its properties are located in a range of markets, including urban areas and other locations near major sources of hotel demand. The hotels operate under well-known brands, while day-to-day property management may be handled by third-party operators.
Further Reading
- Five stocks we like better than RLJ Lodging Trust
- Why Kinder Morgan’s Chairman Just Bought $15 Million in Stock
- Rocket Lab’s Record Backlog Could Fuel a Rebound, But Neutron Raises the Stakes
- Don’t Let Their Low Yields Fool You: 3 Dividend Stocks Worth Watching
- A $4 Billion Jolt: NRG Energy Powers Data Center Ambitions
Receive News & Ratings for RLJ Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLJ Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.
