StockNews.com Upgrades RLJ Lodging Trust (NYSE:RLJ) to “Hold”

StockNews.com upgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a sell rating to a hold rating in a report issued on Friday morning.

Other analysts have also recently issued reports about the company. Wells Fargo & Company cut RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $11.00 to $9.00 in a research report on Friday, September 13th. Oppenheimer upped their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Wolfe Research cut RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Finally, Truist Financial decreased their target price on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.29.

RLJ Lodging Trust Stock Down 1.0 %

Shares of RLJ stock opened at $10.43 on Friday. RLJ Lodging Trust has a 12 month low of $8.74 and a 12 month high of $12.39. The firm has a market cap of $1.60 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.36 and a beta of 1.72. The stock has a 50 day moving average of $9.50 and a 200-day moving average of $9.49. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14.

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

Hedge Funds Weigh In On RLJ Lodging Trust

Hedge funds have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. lifted its stake in RLJ Lodging Trust by 131.1% in the second quarter. Donald Smith & CO. Inc. now owns 3,311,274 shares of the real estate investment trust’s stock valued at $31,888,000 after buying an additional 1,878,616 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of RLJ Lodging Trust by 294.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 841,753 shares of the real estate investment trust’s stock worth $7,727,000 after acquiring an additional 628,157 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of RLJ Lodging Trust by 25.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,991,625 shares of the real estate investment trust’s stock worth $18,283,000 after acquiring an additional 400,100 shares in the last quarter. State Street Corp increased its holdings in shares of RLJ Lodging Trust by 4.8% in the third quarter. State Street Corp now owns 7,397,290 shares of the real estate investment trust’s stock worth $68,999,000 after acquiring an additional 340,271 shares in the last quarter. Finally, Lighthouse Investment Partners LLC increased its holdings in shares of RLJ Lodging Trust by 50.9% in the second quarter. Lighthouse Investment Partners LLC now owns 860,000 shares of the real estate investment trust’s stock worth $8,282,000 after acquiring an additional 290,000 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.