RLJ Lodging Trust (NYSE:RLJ) Trading 4.5% Higher – Here’s What Happened

RLJ Lodging Trust (NYSE:RLJ) shares traded up 4.5% on Tuesday . The company traded as high as $10.68 and last traded at $10.61. 215,331 shares changed hands during trading, a decline of 85% from the average session volume of 1,415,413 shares. The stock had previously closed at $10.15.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RLJ. Oppenheimer upped their target price on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Truist Financial reduced their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Wolfe Research cut RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. StockNews.com lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company lowered shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $11.00 to $9.00 in a research note on Friday, September 13th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.29.

RLJ Lodging Trust Price Performance

The company has a market cap of $1.64 billion, a PE ratio of 37.28, a price-to-earnings-growth ratio of 2.27 and a beta of 1.72. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The firm has a 50 day simple moving average of $9.43 and a 200-day simple moving average of $9.48.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The firm had revenue of $345.74 million during the quarter, compared to analysts’ expectations of $342.93 million. During the same period in the previous year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts predict that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of RLJ Lodging Trust

Institutional investors have recently made changes to their positions in the business. Boston Partners purchased a new stake in RLJ Lodging Trust in the first quarter valued at about $1,025,000. Inspire Investing LLC boosted its stake in RLJ Lodging Trust by 22.3% in the 3rd quarter. Inspire Investing LLC now owns 44,682 shares of the real estate investment trust’s stock worth $410,000 after purchasing an additional 8,136 shares in the last quarter. Creative Planning purchased a new stake in RLJ Lodging Trust during the 3rd quarter worth approximately $275,000. Price T Rowe Associates Inc. MD increased its stake in RLJ Lodging Trust by 2.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 107,116 shares of the real estate investment trust’s stock valued at $1,267,000 after purchasing an additional 2,071 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of RLJ Lodging Trust by 345.1% in the second quarter. Quest Partners LLC now owns 128,274 shares of the real estate investment trust’s stock worth $1,235,000 after buying an additional 99,455 shares during 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.