Zacks Investment Research Upgrades RLJ Lodging Trust (RLJ) to “Hold”
RLJ Lodging Trust (NYSE:RLJ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “RLJ Lodging Trust is a REIT focused on investing primarily in premium-branded, focused-service, and compact full-service hotels. It plans to own hotels concentrated in urban and dense suburban markets. “
A number of other research analysts also recently commented on the company. Janney Montgomery Scott assumed coverage on RLJ Lodging Trust in a research note on Monday, September 26th. They issued a “buy” rating and a $21.90 price target for the company. TheStreet downgraded RLJ Lodging Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Robert W. Baird downgraded RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $24.00 in a research note on Monday, August 8th. Barclays PLC lowered their target price on RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Friday, August 5th. Finally, Canaccord Genuity downgraded RLJ Lodging Trust from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research note on Friday, July 15th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $25.26.
Shares of RLJ Lodging Trust (NYSE:RLJ) traded down 1.61% during mid-day trading on Tuesday, hitting $20.77. 129,249 shares of the company were exchanged. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 13.19 and a beta of 1.12. The firm has a 50 day moving average of $21.99 and a 200 day moving average of $21.96. RLJ Lodging Trust has a 12-month low of $16.15 and a 12-month high of $27.26.
RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.36. The business earned $317.11 million during the quarter, compared to the consensus estimate of $318.47 million. RLJ Lodging Trust had a return on equity of 9.11% and a net margin of 17.13%. RLJ Lodging Trust’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. Equities research analysts forecast that RLJ Lodging Trust will post $1.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Wednesday, September 28th. RLJ Lodging Trust’s payout ratio is presently 84.08%.
In related news, CFO Leslie D. Hale sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $23.62, for a total value of $236,200.00. Following the sale, the chief financial officer now directly owns 283,636 shares in the company, valued at $6,699,482.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.40% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of RLJ. Hillsdale Investment Management Inc. acquired a new position in RLJ Lodging Trust during the second quarter worth about $109,000. BNP Paribas Arbitrage SA boosted its position in RLJ Lodging Trust by 5,849.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,890 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 5,791 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in RLJ Lodging Trust by 0.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,270 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 20 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in RLJ Lodging Trust during the second quarter worth about $176,000. Finally, Profund Advisors LLC boosted its position in RLJ Lodging Trust by 4.5% in the second quarter. Profund Advisors LLC now owns 10,478 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 449 shares during the last quarter.
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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