RLJ Lodging Trust (NYSE:RLJ) Price Target Cut to $12.00 by Analysts at KeyCorp

RLJ Lodging Trust (NYSE:RLJ) had its price objective trimmed by KeyCorp from $14.00 to $12.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating for the company in a research report on Tuesday, February 18th. Truist Financial downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from $11.00 to $10.00 in a research report on Friday. Finally, StockNews.com raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.82.

RLJ Lodging Trust Stock Up 0.9 %

NYSE:RLJ opened at $8.49 on Monday. The firm has a market capitalization of $1.29 billion, a P/E ratio of 29.26, a P/E/G ratio of 2.87 and a beta of 1.69. RLJ Lodging Trust has a 12-month low of $8.26 and a 12-month high of $11.99. The stock’s fifty day simple moving average is $9.46 and its 200-day simple moving average is $9.59. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14.

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

RLJ Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date is Monday, March 31st. RLJ Lodging Trust’s payout ratio is 222.22%.

Hedge Funds Weigh In On RLJ Lodging Trust

Several large investors have recently modified their holdings of RLJ. Intech Investment Management LLC bought a new stake in RLJ Lodging Trust in the third quarter valued at approximately $406,000. Charles Schwab Investment Management Inc. boosted its position in shares of RLJ Lodging Trust by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust’s stock worth $32,977,000 after purchasing an additional 170,484 shares in the last quarter. Cerity Partners LLC grew its stake in shares of RLJ Lodging Trust by 12.3% in the 3rd quarter. Cerity Partners LLC now owns 55,310 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 6,039 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in RLJ Lodging Trust by 294.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 841,753 shares of the real estate investment trust’s stock valued at $7,727,000 after buying an additional 628,157 shares in the last quarter. Finally, Atom Investors LP raised its stake in RLJ Lodging Trust by 106.0% during the 3rd quarter. Atom Investors LP now owns 147,920 shares of the real estate investment trust’s stock worth $1,358,000 after buying an additional 76,112 shares during the period. Institutional investors 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.