RLJ Lodging Trust (NYSE:RLJ) Receives Average Rating of “Hold” from Brokerages
RLJ Lodging Trust (NYSE:RLJ) has been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are covering the firm. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $24.54.
A number of equities analysts recently issued reports on the company. Janney Montgomery Scott assumed coverage on RLJ Lodging Trust in a report on Monday, September 26th. They set a “buy” rating and a $21.90 price target on the stock. TheStreet lowered RLJ Lodging Trust from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Zacks Investment Research lowered RLJ Lodging Trust from a “buy” rating to a “sell” rating in a report on Thursday, August 11th. Robert W. Baird lowered RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $25.00 to $24.00 in a report on Monday, August 8th. Finally, Barclays PLC lowered their price objective on RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Friday, August 5th.
In related news, CFO Leslie D. Hale sold 10,000 shares of RLJ Lodging Trust stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $23.62, for a total transaction of $236,200.00. Following the completion of the transaction, the chief financial officer now directly owns 283,636 shares in the company, valued at approximately $6,699,482.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Virginia Retirement System bought a new position in shares of RLJ Lodging Trust during the first quarter valued at about $1,066,000. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of RLJ Lodging Trust by 22.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 28,704 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 5,335 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of RLJ Lodging Trust by 285.3% in the first quarter. Teachers Advisors Inc. now owns 735,062 shares of the real estate investment trust’s stock valued at $16,818,000 after buying an additional 544,300 shares in the last quarter. Prudential Financial Inc. increased its position in shares of RLJ Lodging Trust by 73.6% in the first quarter. Prudential Financial Inc. now owns 610,060 shares of the real estate investment trust’s stock valued at $13,958,000 after buying an additional 258,600 shares in the last quarter. Finally, BlackRock Japan Co. Ltd increased its position in shares of RLJ Lodging Trust by 18.1% in the first quarter. BlackRock Japan Co. Ltd now owns 110,901 shares of the real estate investment trust’s stock valued at $2,537,000 after buying an additional 17,034 shares in the last quarter.
Shares of RLJ Lodging Trust (NYSE:RLJ) traded down 0.452% during trading on Monday, hitting $20.935. The company’s stock had a trading volume of 247,693 shares. RLJ Lodging Trust has a one year low of $16.15 and a one year high of $27.52. The stock has a market cap of $2.59 billion, a PE ratio of 13.292 and a beta of 1.12. The company has a 50-day moving average price of $22.42 and a 200-day moving average price of $22.03.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.36. RLJ Lodging Trust had a return on equity of 9.11% and a net margin of 17.13%. The firm had revenue of $317.11 million for the quarter, compared to analyst estimates of $318.47 million. During the same quarter last year, the company posted $0.74 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Equities analysts predict that RLJ Lodging Trust will post $1.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.32 annualized dividend and a dividend yield of 6.28%. RLJ Lodging Trust’s dividend payout ratio is currently 84.08%.
About RLJ Lodging Trust
RLJ Lodging Trust is a real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. The Company owns approximately 130 hotels with over 20,900 rooms, located in approximately 20 states and the District of Columbia, and an interest in a mortgage loan secured by a hotel.
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