RLJ Lodging Trust (NYSE:RLJ) Given New $9.75 Price Target at Wells Fargo & Company

RLJ Lodging Trust (NYSE:RLJ) had its target price lowered by Wells Fargo & Company from $10.50 to $9.75 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an underweight rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on RLJ. Oppenheimer increased their price target 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 target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.79.

RLJ Lodging Trust Stock Up 1.6 %

RLJ opened at $9.72 on Tuesday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 33.50 and a beta of 1.68. RLJ Lodging Trust has a 12 month low of $8.74 and a 12 month high of $12.39. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. The business has a 50-day moving average of $9.95 and a two-hundred day moving average of $9.61.

RLJ Lodging Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.18%. RLJ Lodging Trust’s dividend payout ratio (DPR) is 206.90%.

Hedge Funds Weigh In On RLJ Lodging Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLJ. US Bancorp DE lifted its holdings in shares of RLJ Lodging Trust by 78.2% in the fourth quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,417 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in RLJ Lodging Trust by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 1,564 shares during the period. Ground Swell Capital LLC acquired a new position in RLJ Lodging Trust during the third quarter valued at $93,000. Aigen Investment Management LP purchased a new stake in RLJ Lodging Trust in the 3rd quarter worth about $107,000. Finally, CreativeOne Wealth LLC acquired a new stake in RLJ Lodging Trust during the 4th quarter worth about $111,000. 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.