RLJ Lodging Trust (NYSE:RLJ) Price Target Cut to $9.75 by Analysts at Wells Fargo & Company

RLJ Lodging Trust (NYSE:RLJ) had its target price reduced by Wells Fargo & Company from $10.50 to $9.75 in a research report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on RLJ. Oppenheimer lifted their target price on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Truist Financial dropped their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Two equities 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 MarketBeat, RLJ Lodging Trust currently has an average rating of “Hold” and an average target price of $10.79.

RLJ Lodging Trust Stock Performance

Shares of NYSE RLJ opened at $9.72 on Tuesday. The company has a market cap of $1.49 billion, a P/E ratio of 33.50 and a beta of 1.68. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39. 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 firm’s fifty day moving average is $9.95 and its two-hundred day moving average is $9.61.

RLJ Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.15 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a yield of 6.18%. RLJ Lodging Trust’s payout ratio is 206.90%.

Institutional Investors Weigh In On RLJ Lodging Trust

Institutional investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. boosted its stake in shares of RLJ Lodging Trust by 46.6% in the third quarter. Donald Smith & CO. Inc. now owns 4,855,122 shares of the real estate investment trust’s stock worth $44,570,000 after acquiring an additional 1,543,848 shares during the last quarter. Woodline Partners LP acquired a new position in shares of RLJ Lodging Trust in the fourth quarter worth $9,714,000. Ameriprise Financial Inc. boosted its position in shares of RLJ Lodging Trust by 58.5% during the 4th quarter. Ameriprise Financial Inc. now owns 2,398,066 shares of the real estate investment trust’s stock worth $24,486,000 after acquiring an additional 885,071 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of RLJ Lodging Trust during the 4th quarter worth about $9,036,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in RLJ Lodging Trust by 294.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 841,753 shares of the real estate investment trust’s stock worth $7,727,000 after purchasing an additional 628,157 shares during 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-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.