Truist Financial Lowers RLJ Lodging Trust (NYSE:RLJ) Price Target to $11.00

RLJ Lodging Trust (NYSE:RLJ) had its price target decreased by stock analysts at Truist Financial from $14.00 to $11.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective would indicate a potential upside of 21.35% from the company’s current price.

Several other equities research analysts have also issued reports on RLJ. Bank of America reduced their price target on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, July 22nd. StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Friday, October 11th. Wells Fargo & Company lowered RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $11.00 to $9.00 in a report on Friday, September 13th. Wolfe Research lowered RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Finally, Compass Point lowered RLJ Lodging Trust from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $10.00 in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.71.

RLJ Lodging Trust Price Performance

Shares of RLJ Lodging Trust stock opened at $9.07 on Monday. The company’s 50-day moving average price is $9.28 and its two-hundred day moving average price is $9.69. The stock has a market cap of $1.41 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 0.86 and a beta of 1.69. RLJ Lodging Trust has a 52 week low of $8.79 and a 52 week high of $12.39. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.12.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.25). RLJ Lodging Trust had a return on equity of 3.34% and a net margin of 4.93%. The company had revenue of $369.30 million during the quarter, compared to analysts’ expectations of $365.67 million. During the same period in the prior year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

Institutional Trading of RLJ Lodging Trust

Several large investors have recently made changes to their positions in RLJ. SG Americas Securities LLC lifted its stake in shares of RLJ Lodging Trust by 86.5% during the first quarter. SG Americas Securities LLC now owns 125,076 shares of the real estate investment trust’s stock valued at $1,478,000 after acquiring an additional 58,002 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in RLJ Lodging Trust by 17.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,554,388 shares of the real estate investment trust’s stock valued at $18,373,000 after buying an additional 232,091 shares during the period. Russell Investments Group Ltd. lifted its stake in RLJ Lodging Trust by 44.8% in the first quarter. Russell Investments Group Ltd. now owns 181,076 shares of the real estate investment trust’s stock valued at $2,140,000 after buying an additional 55,996 shares during the period. Boston Partners acquired a new position in RLJ Lodging Trust in the first quarter valued at about $1,025,000. Finally, LSV Asset Management lifted its stake in RLJ Lodging Trust by 5.7% in the first quarter. LSV Asset Management now owns 1,547,200 shares of the real estate investment trust’s stock valued at $18,288,000 after buying an additional 83,500 shares during the period. 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.