RLJ Lodging Trust (NYSE:RLJ) Sets New 12-Month High – Still a Buy?

Shares of RLJ Lodging Trust (NYSE:RLJ) reached a new 52-week high on Tuesday . The company traded as high as $11.54 and last traded at $11.36, with a volume of 1324781 shares changing hands. The stock had previously closed at $11.43.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group set a $13.00 price target on RLJ Lodging Trust in a research note on Thursday, June 18th. Oppenheimer reissued an “outperform” rating and issued a $13.00 price objective (up from $10.00) on shares of RLJ Lodging Trust in a report on Thursday, June 18th. Wall Street Zen upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Truist Financial upped their target price on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the company a “hold” rating in a report on Friday, June 12th. Finally, LADENBURG THALM/SH SH increased their price target on shares of RLJ Lodging Trust from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.56.

RLJ Lodging Trust Trading Down 0.1%

The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89. The stock has a fifty day moving average of $9.53 and a 200 day moving average of $8.36. The company has a market capitalization of $1.72 billion, a PE ratio of -1,129.50 and a beta of 1.13.

RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $339.98 million during the quarter, compared to analysts’ expectations of $323.51 million. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. RLJ Lodging Trust’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $0.31 earnings per share. As a group, sell-side analysts predict that RLJ Lodging Trust will post 1.26 earnings per share for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.3%. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently -6,000.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in RLJ Lodging Trust by 2,721.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 3,347 shares in the last quarter. Daytona Street Capital LLC purchased a new stake in shares of RLJ Lodging Trust during the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. raised its holdings in shares of RLJ Lodging Trust by 166.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 2,887 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of RLJ Lodging Trust during the 3rd quarter valued at approximately $36,000. Finally, Danske Bank A S bought a new position in shares of RLJ Lodging Trust during the 3rd quarter valued at approximately $50,000. 92.35% of the stock is owned by institutional investors.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.