RLJ Lodging Trust (NYSE:RLJ) Given Average Rating of “Hold” by Analysts

RLJ Lodging Trust (NYSE:RLJ) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $11.50.

Several research analysts have recently issued reports on RLJ shares. Oppenheimer increased their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Truist Financial lowered their target price on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company upped their price target on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an “underweight” rating in a research note on Monday, December 9th. Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Finally, StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

Institutional Investors Weigh In On RLJ Lodging Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of RLJ Lodging Trust by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 980,894 shares of the real estate investment trust’s stock valued at $9,446,000 after purchasing an additional 51,981 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of RLJ Lodging Trust by 87.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 22,427 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 10,483 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of RLJ Lodging Trust by 2.4% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,591,525 shares of the real estate investment trust’s stock valued at $15,326,000 after acquiring an additional 37,137 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of RLJ Lodging Trust in the 2nd quarter valued at approximately $158,000. Finally, Wolverine Asset Management LLC boosted its stake in RLJ Lodging Trust by 219.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 25,600 shares of the real estate investment trust’s stock worth $247,000 after purchasing an additional 17,589 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.

RLJ Lodging Trust Stock Up 1.1 %

RLJ Lodging Trust stock opened at $10.28 on Wednesday. The firm has a market capitalization of $1.58 billion, a P/E ratio of 35.45, a P/E/G ratio of 2.31 and a beta of 1.72. The company has a 50-day simple moving average of $9.78 and a 200-day simple moving average of $9.53. RLJ Lodging Trust has a one year low of $8.74 and a one year high of $12.39. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.23). The firm had revenue of $345.74 million during the quarter, compared to analyst estimates of $342.93 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. RLJ Lodging Trust’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. As a group, equities analysts expect that RLJ Lodging Trust will post 1.34 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend is Tuesday, December 31st. RLJ Lodging Trust’s dividend payout ratio is presently 206.90%.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.