RLJ Lodging Trust (NYSE:RLJ) Rating Lowered to Sell at StockNews.com

RLJ Lodging Trust (NYSE:RLJ) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

RLJ has been the topic of several other research reports. Wells Fargo & Company raised their price target on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the company an “underweight” rating in a research report on Monday, December 9th. Truist Financial dropped their target price 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. Finally, Oppenheimer upped their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.92.

RLJ Lodging Trust Stock Performance

Shares of RLJ stock opened at $9.87 on Wednesday. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The stock has a market cap of $1.51 billion, a PE ratio of 34.03 and a beta of 1.70. The business has a 50-day simple moving average of $10.13 and a 200-day simple moving average of $9.61.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). The company had revenue of $345.74 million during the quarter, compared to analyst estimates of $342.93 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, equities analysts expect that RLJ Lodging Trust will post 1.37 EPS for the current year.

Hedge Funds Weigh In On RLJ Lodging Trust

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

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.