RLJ Lodging Trust (NYSE:RLJ) Price Target Lowered to $11.00 at Truist Financial

RLJ Lodging Trust (NYSE:RLJ) had its price target cut by Truist Financial from $14.00 to $11.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

RLJ has been the subject of several other reports. StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Friday, October 11th. Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Wells Fargo & Company downgraded RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $11.00 to $9.00 in a research report on Friday, September 13th. Bank of America cut their price objective on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, July 22nd. Finally, Compass Point lowered RLJ Lodging Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $10.00 in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.71.

RLJ Lodging Trust Stock Performance

NYSE RLJ opened at $9.07 on Monday. The company’s 50 day simple moving average is $9.28 and its two-hundred day simple moving average is $9.70. The stock has a market capitalization of $1.41 billion, a PE ratio of 34.89, a P/E/G ratio of 0.86 and a beta of 1.69. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60. RLJ Lodging Trust has a 1 year low of $8.79 and a 1 year high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 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 business had revenue of $369.30 million for the quarter, compared to analysts’ expectations of $365.67 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. RLJ Lodging Trust’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts predict that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

RLJ Lodging Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.15 dividend. This is a boost from RLJ Lodging Trust’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend was Monday, September 30th. RLJ Lodging Trust’s payout ratio is 230.78%.

Institutional Trading of RLJ Lodging Trust

A number of institutional investors have recently made changes to their positions in RLJ. Allspring Global Investments Holdings LLC raised its holdings in RLJ Lodging Trust by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust’s stock valued at $141,000 after buying an additional 1,229 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in RLJ Lodging Trust by 36.0% during the 1st quarter. BNP Paribas Financial Markets now owns 100,553 shares of the real estate investment trust’s stock valued at $1,189,000 after purchasing an additional 26,604 shares during the period. GSA Capital Partners LLP raised its position in RLJ Lodging Trust by 145.6% during the 1st quarter. GSA Capital Partners LLP now owns 78,058 shares of the real estate investment trust’s stock valued at $923,000 after purchasing an additional 46,272 shares during the last quarter. LSV Asset Management lifted its stake in RLJ Lodging Trust by 5.7% in the first quarter. LSV Asset Management now owns 1,547,200 shares of the real estate investment trust’s stock worth $18,288,000 after acquiring an additional 83,500 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of RLJ Lodging Trust by 86.5% during the 1st quarter. SG Americas Securities LLC now owns 125,076 shares of the real estate investment trust’s stock valued at $1,478,000 after purchasing an additional 58,002 shares in the last quarter. Hedge funds and other institutional investors 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.