RLJ Lodging Trust (NYSE:RLJ) Receives $10.82 Average PT from Brokerages

RLJ Lodging Trust (NYSE:RLJ) has received an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $10.82.

RLJ has been the topic of several research analyst reports. StockNews.com lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Tuesday. Truist Financial downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and reduced their price target for the company from $11.00 to $10.00 in a research note on Friday, March 21st. KeyCorp lowered their price objective on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Finally, Wells Fargo & Company cut their target price on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th.

Insider Activity

In related news, Director Patricia L. Gibson purchased 10,000 shares of RLJ Lodging Trust stock in a transaction on Friday, March 28th. The shares were purchased at an average price of $8.03 per share, for a total transaction of $80,300.00. Following the transaction, the director now owns 124,217 shares of the company’s stock, valued at approximately $997,462.51. This represents a 8.76 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On RLJ Lodging Trust

Hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in RLJ Lodging Trust in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc lifted its position in shares of RLJ Lodging Trust by 402.7% in the 1st quarter. Versant Capital Management Inc now owns 3,675 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 2,944 shares during the period. US Bancorp DE boosted its stake in shares of RLJ Lodging Trust by 78.2% in the 4th 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 during the last quarter. CreativeOne Wealth LLC bought a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at $111,000. Finally, Xponance Inc. acquired a new stake in shares of RLJ Lodging Trust during the fourth quarter worth $112,000. 92.35% of the stock is currently owned by institutional investors.

RLJ Lodging Trust Stock Performance

Shares of RLJ Lodging Trust stock opened at $6.35 on Friday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. The company has a market cap of $962.57 million, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.87 and a beta of 1.51. The company has a 50 day moving average of $8.88 and a 200-day moving average of $9.45. RLJ Lodging Trust has a 1-year low of $6.25 and a 1-year high of $11.99.

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

RLJ Lodging Trust Announces Dividend

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 9.46%. The ex-dividend date of this dividend is Monday, March 31st. RLJ Lodging Trust’s payout ratio is 222.22%.

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.