Zacks Investment Research upgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a sell rating to a hold rating in a report released on Wednesday, September 12th.
According to Zacks, “RLJ Lodging Trust is a REIT focused on investing primarily in premium-branded, focused-service, and compact full-service hotels. It plans to own hotels concentrated in urban and dense suburban markets. “
Several other research analysts have also recently weighed in on the company. Wells Fargo & Co cut RLJ Lodging Trust from an outperform rating to a market perform rating in a report on Tuesday, August 7th. Barclays upgraded RLJ Lodging Trust from an equal weight rating to an overweight rating and set a $23.00 target price on the stock in a report on Friday, June 1st. Finally, ValuEngine cut RLJ Lodging Trust from a hold rating to a sell rating in a report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. RLJ Lodging Trust currently has a consensus rating of Hold and a consensus target price of $22.57.
NYSE:RLJ traded up $0.49 during trading hours on Wednesday, hitting $21.20. 837,000 shares of the stock were exchanged, compared to its average volume of 1,247,994. RLJ Lodging Trust has a 52-week low of $18.67 and a 52-week high of $23.97. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.82. The firm has a market cap of $3.86 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11.
RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.40). RLJ Lodging Trust had a return on equity of 3.11% and a net margin of 5.72%. The firm had revenue of $484.69 million for the quarter, compared to analysts’ expectations of $488.62 million. On average, research analysts forecast that RLJ Lodging Trust will post 2.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date is Thursday, September 27th. RLJ Lodging Trust’s dividend payout ratio is presently 55.00%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zeke Capital Advisors LLC acquired a new position in RLJ Lodging Trust in the second quarter valued at approximately $206,000. Truvestments Capital LLC acquired a new position in RLJ Lodging Trust in the second quarter valued at approximately $235,000. Dynamic Technology Lab Private Ltd acquired a new position in RLJ Lodging Trust in the first quarter valued at approximately $261,000. Tower Research Capital LLC TRC lifted its holdings in RLJ Lodging Trust by 115.3% in the second quarter. Tower Research Capital LLC TRC now owns 12,056 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 6,456 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in RLJ Lodging Trust by 72.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 17,649 shares of the real estate investment trust’s stock valued at $343,000 after acquiring an additional 7,421 shares during the last quarter. Hedge funds and other institutional investors own 98.52% 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 consists of 154 hotels with approximately 30,000 rooms located in 26 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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