RLJ Lodging Trust (NYSE:RLJ) Lowered to Peer Perform at Wolfe Research

RLJ Lodging Trust (NYSE:RLJ) was downgraded by research analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research note issued on Thursday, Marketbeat Ratings reports.

A number of other brokerages have also recently commented on RLJ. Bank of America cut their price target on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating on the stock in a research report on Monday, July 22nd. Wells Fargo & Company lowered RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $11.00 to $9.00 in a research report on Friday, September 13th. StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Robert W. Baird dropped their price target on RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 11th. Finally, Compass Point downgraded shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $10.00 in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, RLJ Lodging Trust presently has an average rating of “Hold” and an average target price of $12.25.

RLJ Lodging Trust Stock Down 2.9 %

Shares of RLJ opened at $9.61 on Thursday. The stock’s 50-day moving average price is $9.32 and its two-hundred day moving average price is $10.14. RLJ Lodging Trust has a 12 month low of $8.79 and a 12 month high of $12.39. The company has a market capitalization of $1.50 billion, a PE ratio of 34.32, a PEG ratio of 0.93 and a beta of 1.70. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.12.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.25). RLJ Lodging Trust had a return on equity of 3.34% and a net margin of 4.93%. The firm had revenue of $369.30 million for the quarter, compared to the consensus estimate of $365.67 million. During the same quarter in the previous year, the business posted $0.56 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts anticipate that RLJ Lodging Trust will post 1.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Quarry LP lifted its position in RLJ Lodging Trust by 197.3% in the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 3,627 shares in the last quarter. Hazelview Securities Inc. purchased a new position in shares of RLJ Lodging Trust during the first quarter valued at approximately $82,000. BOKF NA purchased a new position in shares of RLJ Lodging Trust during the first quarter valued at approximately $139,000. Allspring Global Investments Holdings LLC raised its holdings in shares of RLJ Lodging Trust by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 1,229 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of RLJ Lodging Trust by 32.3% during the first quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 3,052 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

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.