RLJ Lodging Trust (NYSE:RLJ) Rating Lowered to Hold at Zacks Research

RLJ Lodging Trust (NYSE:RLJ) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently weighed in on RLJ. Wall Street Zen raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. UBS Group set a $13.00 target price on RLJ Lodging Trust in a research report on Thursday, June 18th. Barclays increased their price objective on RLJ Lodging Trust from $9.00 to $9.50 and gave the company an “underweight” rating in a report on Tuesday, July 21st. Weiss Ratings raised RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Finally, Raymond James Financial lowered shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $9.00 to $11.00 in a research report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $10.83.

RLJ Lodging Trust Trading Down 0.7%

NYSE RLJ opened at $12.35 on Tuesday. The stock’s 50-day moving average is $11.45 and its 200-day moving average is $9.27. RLJ Lodging Trust has a one year low of $6.54 and a one year high of $12.57. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89. The firm has a market cap of $1.88 billion, a P/E ratio of -1,234.60 and a beta of 1.09.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The business had revenue of $339.98 million for the quarter, compared to analyst estimates of $323.51 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that RLJ Lodging Trust will post 1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RLJ Lodging Trust

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in RLJ Lodging Trust by 2,721.1% in 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 purchasing an additional 3,347 shares during the period. Daytona Street Capital LLC acquired a new stake in shares of RLJ Lodging Trust in the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. raised its position in shares of RLJ Lodging Trust by 166.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 2,887 shares in the last quarter. Danske Bank A S bought a new stake in shares of RLJ Lodging Trust in the third quarter valued at approximately $50,000. Finally, Los Angeles Capital Management LLC acquired a new stake in RLJ Lodging Trust during the fourth quarter worth approximately $51,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.

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.