RLJ Lodging Trust (NYSE:RLJ) Raised to “Hold” at StockNews.com

RLJ Lodging Trust (NYSE:RLJ) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

RLJ has been the subject of several other research reports. Truist Financial lowered their target price on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company cut shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $11.00 to $9.00 in a research report on Friday, September 13th. Oppenheimer boosted their price target on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Wolfe Research cut shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.29.

RLJ Lodging Trust Stock Down 1.0 %

RLJ stock opened at $10.43 on Friday. The company has a fifty day moving average of $9.50 and a 200-day moving average of $9.49. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a market capitalization of $1.60 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.36 and a beta of 1.72. RLJ Lodging Trust has a one year low of $8.74 and a one year high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.23). RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The firm had revenue of $345.74 million for the quarter, compared to analyst estimates of $342.93 million. During the same period in the prior year, the business earned $0.40 earnings per share. RLJ Lodging Trust’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts expect that RLJ Lodging Trust will post 1.34 EPS for the current year.

Hedge Funds Weigh In On RLJ Lodging Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in RLJ Lodging Trust by 4.8% in the 3rd quarter. State Street Corp now owns 7,397,290 shares of the real estate investment trust’s stock valued at $68,999,000 after purchasing an additional 340,271 shares during the last quarter. Donald Smith & CO. Inc. raised its position in RLJ Lodging Trust by 46.6% in the 3rd quarter. Donald Smith & CO. Inc. now owns 4,855,122 shares of the real estate investment trust’s stock valued at $44,570,000 after purchasing an additional 1,543,848 shares during the last quarter. Geode Capital Management LLC raised its position in shares of RLJ Lodging Trust by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,930,177 shares of the real estate investment trust’s stock worth $36,085,000 after acquiring an additional 44,121 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of RLJ Lodging Trust by 5.0% during the third 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 acquiring an additional 170,484 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of RLJ Lodging Trust by 25.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,991,625 shares of the real estate investment trust’s stock worth $18,283,000 after acquiring an additional 400,100 shares during the last quarter. 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.