RLJ Lodging Trust (NYSE:RLJ) Price Target Cut to $12.00 by Analysts at KeyCorp

RLJ Lodging Trust (NYSE:RLJ) had its target price reduced by KeyCorp from $14.00 to $12.00 in a report published on Monday,Benzinga reports. KeyCorp currently has an overweight rating on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on RLJ. Truist Financial downgraded RLJ Lodging Trust from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $11.00 to $10.00 in a research note on Friday. Wells Fargo & Company reduced their price target on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating for the company in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RLJ Lodging Trust currently has an average rating of “Hold” and a consensus price target of $10.82.

RLJ Lodging Trust Stock Performance

Shares of RLJ opened at $8.49 on Monday. The company has a 50-day moving average of $9.46 and a two-hundred day moving average of $9.59. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 2.87 and a beta of 1.69. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. RLJ Lodging Trust has a one year low of $8.26 and a one year high of $11.99.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.36. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm had revenue of $329.99 million during the quarter, compared to analyst estimates of $324.66 million. On average, equities research analysts expect that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date of this dividend is Monday, March 31st. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently 222.22%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RLJ. Woodline Partners LP acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at $9,714,000. Donald Smith & CO. Inc. lifted its position in shares of RLJ Lodging Trust by 18.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 5,756,233 shares of the real estate investment trust’s stock worth $58,771,000 after buying an additional 901,111 shares during the last quarter. Ameriprise Financial Inc. boosted its stake 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 position in shares of RLJ Lodging Trust during the 4th quarter valued at about $9,036,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of RLJ Lodging Trust by 294.1% in the 3rd 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 valued at $7,727,000 after acquiring an additional 628,157 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.