RLJ Lodging Trust (NYSE:RLJ) Price Target Raised to $10.50 at Wells Fargo & Company

RLJ Lodging Trust (NYSE:RLJ) had its price target boosted by Wells Fargo & Company from $10.00 to $10.50 in a research report report published on Monday,Benzinga reports. They currently have an underweight rating on the real estate investment trust’s stock.

RLJ has been the subject of several other research reports. Oppenheimer increased their target price on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Friday. Wolfe Research lowered RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Finally, Truist Financial decreased their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.50.

RLJ Lodging Trust Price Performance

RLJ stock opened at $10.53 on Monday. 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 business has a 50-day simple moving average of $9.53 and a two-hundred day simple moving average of $9.49. The company has a market capitalization of $1.61 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 2.32 and a beta of 1.72. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last announced its 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). The company had revenue of $345.74 million for the quarter, compared to analysts’ expectations of $342.93 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Research analysts expect that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On RLJ Lodging Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP lifted its position in shares of RLJ Lodging Trust by 197.3% during the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 3,627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in RLJ Lodging Trust by 34.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,564 shares during the period. Ground Swell Capital LLC purchased a new stake in RLJ Lodging Trust during the third quarter valued at about $93,000. Aigen Investment Management LP bought a new position in RLJ Lodging Trust during the third quarter worth about $107,000. Finally, Metis Global Partners LLC boosted its position in RLJ Lodging Trust by 31.0% during the third quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 3,738 shares during the period. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Company Profile

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.