RLJ Lodging Trust (NYSE:RLJ) Receives $10.61 Average Price Target from Brokerages

Shares of RLJ Lodging Trust (NYSE:RLJ) have received a consensus rating of “Hold” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $10.8333.

Several equities analysts have recently commented on RLJ shares. Wall Street Zen upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Wells Fargo & Company lifted their price objective on shares of RLJ Lodging Trust from $9.00 to $11.00 and gave the company an “underweight” rating in a research report on Thursday. Bank of America boosted their target price on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the company an “underperform” rating in a research note on Monday, July 20th. Truist Financial upped their target price on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, June 12th. Finally, UBS Group set a $13.00 price target on shares of RLJ Lodging Trust in a research note on Thursday, June 18th.

Institutional Trading of RLJ Lodging Trust

Several large investors have recently added to or reduced their stakes in RLJ. Donald Smith & CO. Inc. raised its stake in RLJ Lodging Trust by 23.1% during the 4th quarter. Donald Smith & CO. Inc. now owns 13,140,744 shares of the real estate investment trust’s stock valued at $97,899,000 after acquiring an additional 2,463,189 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of RLJ Lodging Trust by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 3,844,974 shares of the real estate investment trust’s stock worth $28,650,000 after purchasing an additional 114,163 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of RLJ Lodging Trust by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,709,660 shares of the real estate investment trust’s stock worth $27,637,000 after purchasing an additional 74,252 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of RLJ Lodging Trust by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 3,127,412 shares of the real estate investment trust’s stock worth $23,299,000 after purchasing an additional 94,291 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of RLJ Lodging Trust by 33.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,042,014 shares of the real estate investment trust’s stock valued at $21,903,000 after purchasing an additional 759,913 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.

RLJ Lodging Trust Price Performance

Shares of RLJ opened at $12.32 on Thursday. The company has a market cap of $1.87 billion, a P/E ratio of -1,232.50 and a beta of 1.09. The stock has a fifty day moving average price of $11.00 and a 200 day moving average price of $8.99. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89. RLJ Lodging Trust has a 12 month low of $6.54 and a 12 month high of $12.51.

RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. RLJ Lodging Trust had a return on equity of 1.37% and a net margin of 1.84%.The firm had revenue of $339.98 million for the quarter, compared to analyst estimates of $323.51 million. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, research analysts forecast that RLJ Lodging Trust will post 1.26 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, June 30th. RLJ Lodging Trust’s dividend payout ratio is -6,000.00%.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.