RLJ Lodging Trust (NYSE:RLJ) Downgraded to “Hold” Rating by Truist Financial

RLJ Lodging Trust (NYSE:RLJ) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a report released on Friday, Marketbeat reports. They presently have a $10.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $11.00. Truist Financial’s target price points to a potential upside of 18.79% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company dropped their price objective on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating on the stock in a research note on Tuesday, February 18th. StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.63.

RLJ Lodging Trust Stock Down 5.2 %

RLJ Lodging Trust stock opened at $8.42 on Friday. The firm has a market cap of $1.28 billion, a PE ratio of 29.03, a P/E/G ratio of 2.87 and a beta of 1.69. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74. The firm’s 50 day moving average price is $9.48 and its two-hundred day moving average price is $9.60. RLJ Lodging Trust has a twelve month low of $8.26 and a twelve month high of $11.99.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.36. The firm had revenue of $329.99 million for the quarter, compared to analyst estimates of $324.66 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. On average, research analysts predict that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in RLJ Lodging Trust by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust’s stock valued at $32,977,000 after buying an additional 170,484 shares during the last quarter. Barclays PLC boosted its holdings in RLJ Lodging Trust by 97.4% in the 3rd quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust’s stock valued at $2,495,000 after purchasing an additional 134,093 shares during the period. Fisher Asset Management LLC boosted its holdings in RLJ Lodging Trust by 7.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,331,818 shares of the real estate investment trust’s stock valued at $34,018,000 after purchasing an additional 232,393 shares during the period. Sanctuary Advisors LLC bought a new stake in RLJ Lodging Trust in the 4th quarter valued at $277,000. Finally, JPMorgan Chase & Co. boosted its holdings in RLJ Lodging Trust by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust’s stock valued at $47,429,000 after purchasing an additional 240,254 shares during the period. Institutional investors and hedge funds own 92.35% of the company’s stock.

About RLJ Lodging Trust

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.