RLJ Lodging Trust (NYSE:RLJ) Receives $10.56 Consensus PT from Brokerages

RLJ Lodging Trust (NYSE:RLJ) has received an average recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $10.5625.

Several equities research analysts recently issued reports on RLJ shares. Truist Financial increased their price objective on RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, June 12th. UBS Group set a $13.00 target price on RLJ Lodging Trust in a research note on Thursday, June 18th. Oppenheimer reiterated an “outperform” rating and issued a $13.00 target price (up from $10.00) on shares of RLJ Lodging Trust in a report on Thursday, June 18th. Wells Fargo & Company increased their price target on shares of RLJ Lodging Trust from $7.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, June 1st. Finally, Weiss Ratings upgraded shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th.

RLJ Lodging Trust Trading Down 0.1%

NYSE:RLJ opened at $11.77 on Friday. RLJ Lodging Trust has a 1-year low of $6.54 and a 1-year high of $12.03. The stock has a fifty day simple moving average of $10.04 and a 200 day simple moving average of $8.57. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -1,177.30 and a beta of 1.09. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.22.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $0.31 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that RLJ Lodging Trust will post 1.26 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.1%. RLJ Lodging Trust’s dividend payout ratio is -6,000.00%.

Hedge Funds Weigh In On RLJ Lodging Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its position in RLJ Lodging Trust by 23.1% during the fourth quarter. Donald Smith & CO. Inc. now owns 13,140,744 shares of the real estate investment trust’s stock worth $97,899,000 after buying an additional 2,463,189 shares during the last quarter. Centersquare Investment Management LLC acquired a new position in shares of RLJ Lodging Trust in the fourth quarter valued at $13,254,000. Aegis Financial Corp acquired a new position in shares of RLJ Lodging Trust in the 4th quarter valued at $9,475,000. Ameriprise Financial Inc. boosted its holdings in RLJ Lodging Trust by 286.2% during the second quarter. Ameriprise Financial Inc. now owns 1,618,413 shares of the real estate investment trust’s stock valued at $11,783,000 after purchasing an additional 1,199,318 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in RLJ Lodging Trust by 179.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,434,974 shares of the real estate investment trust’s stock valued at $10,447,000 after buying an additional 921,548 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

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.