Bank of America Lowers RLJ Lodging Trust (NYSE:RLJ) Price Target to $10.00

RLJ Lodging Trust (NYSE:RLJ) had its price objective lowered by Bank of America from $12.00 to $10.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an underperform rating on the real estate investment trust’s stock.

RLJ has been the topic of a number of other reports. StockNews.com lowered shares of RLJ Lodging Trust from a hold rating to a sell rating in a report on Thursday, May 23rd. Robert W. Baird lowered their target price on shares of RLJ Lodging Trust from $13.00 to $12.00 and set an outperform rating for the company in a research note on Tuesday, June 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $13.07.

RLJ Lodging Trust Price Performance

RLJ stock opened at $9.34 on Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.81 and a current ratio of 2.81. The stock’s 50 day moving average price is $9.71 and its 200 day moving average price is $10.90. The firm has a market cap of $1.46 billion, a P/E ratio of 33.36, a PEG ratio of 0.83 and a beta of 1.70. RLJ Lodging Trust has a 1 year low of $9.06 and a 1 year high of $12.39.

RLJ Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, June 28th. This represents a $0.40 annualized dividend and a dividend yield of 4.28%. RLJ Lodging Trust’s dividend payout ratio is presently 142.86%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in RLJ Lodging Trust by 86.5% in the first quarter. SG Americas Securities LLC now owns 125,076 shares of the real estate investment trust’s stock valued at $1,478,000 after acquiring an additional 58,002 shares in the last quarter. Armistice Capital LLC acquired a new stake in shares of RLJ Lodging Trust during the fourth quarter worth $2,930,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of RLJ Lodging Trust by 4,772.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,175,932 shares of the real estate investment trust’s stock valued at $13,782,000 after buying an additional 1,151,800 shares during the period. Vanguard Group Inc. grew its position in shares of RLJ Lodging Trust by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 24,816,392 shares of the real estate investment trust’s stock valued at $290,848,000 after buying an additional 87,414 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in RLJ Lodging Trust by 17.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,554,388 shares of the real estate investment trust’s stock worth $18,373,000 after acquiring an additional 232,091 shares during the period. 92.35% of the stock is owned by hedge funds and other institutional investors.

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.