KeyCorp Has Lowered Expectations for RLJ Lodging Trust (NYSE:RLJ) Stock Price

RLJ Lodging Trust (NYSE:RLJ) had its price target reduced by investment analysts at KeyCorp from $14.00 to $12.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s target price points to a potential upside of 43.20% from the stock’s previous close.

A number of other research analysts have also commented on the company. Truist Financial lowered RLJ Lodging Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from $11.00 to $10.00 in a report on Friday, March 21st. StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price target on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.82.

RLJ Lodging Trust Price Performance

Shares of RLJ opened at $8.38 on Monday. The company’s 50-day moving average is $9.43 and its 200-day moving average is $9.59. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a market capitalization of $1.27 billion, a PE ratio of 28.90, a PEG ratio of 2.87 and a beta of 1.69. RLJ Lodging Trust has a fifty-two week low of $8.26 and a fifty-two week high of $11.99.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.36. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm had revenue of $329.99 million during the quarter, compared to the consensus estimate of $324.66 million. Equities analysts forecast that RLJ Lodging Trust will post 1.37 EPS for the current year.

Institutional Trading of RLJ Lodging Trust

Several large investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in RLJ Lodging Trust during the fourth quarter valued at approximately $29,000. US Bancorp DE increased its stake in shares of RLJ Lodging Trust by 78.2% in the 4th quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,417 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in shares of RLJ Lodging Trust during the 4th quarter worth $111,000. Xponance Inc. bought a new stake in shares of RLJ Lodging Trust during the 4th quarter worth $112,000. Finally, EntryPoint Capital LLC boosted its stake in RLJ Lodging Trust by 23.8% in the fourth quarter. EntryPoint Capital LLC now owns 13,659 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 2,624 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-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.