Wells Fargo & Company Lowers RLJ Lodging Trust (NYSE:RLJ) Price Target to $9.75

RLJ Lodging Trust (NYSE:RLJ) had its price objective decreased by Wells Fargo & Company from $10.50 to $9.75 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the stock. 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. 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 report on Tuesday, November 12th. Finally, StockNews.com raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. 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. According to data from MarketBeat, RLJ Lodging Trust presently has a consensus rating of “Hold” and an average target price of $10.79.

RLJ Lodging Trust Stock Performance

RLJ opened at $9.59 on Tuesday. The firm has a fifty day moving average price of $9.92 and a 200 day moving average price of $9.61. RLJ Lodging Trust has a 1 year low of $8.74 and a 1 year high of $12.39. The stock has a market cap of $1.47 billion, a P/E ratio of 33.06, a P/E/G ratio of 2.92 and a beta of 1.68. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74.

RLJ Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 6.26%. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 206.90%.

Hedge Funds Weigh In On RLJ Lodging Trust

A number of hedge funds have recently made changes to their positions in RLJ. GF Fund Management CO. LTD. purchased a new stake in shares of RLJ Lodging Trust during the fourth quarter worth approximately $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of RLJ Lodging Trust by 5.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 890,487 shares of the real estate investment trust’s stock worth $9,092,000 after buying an additional 48,734 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of RLJ Lodging Trust during the fourth quarter worth $9,714,000. Two Sigma Advisers LP raised its position in shares of RLJ Lodging Trust by 9.8% in the fourth quarter. Two Sigma Advisers LP now owns 225,823 shares of the real estate investment trust’s stock valued at $2,306,000 after buying an additional 20,100 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of RLJ Lodging Trust by 103.5% in the fourth quarter. Two Sigma Investments LP now owns 488,403 shares of the real estate investment trust’s stock worth $4,987,000 after buying an additional 248,350 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

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.