RLJ Lodging Trust (RLJ) Earns “Buy” Rating from Janney Montgomery Scott
Janney Montgomery Scott restated their buy rating on shares of RLJ Lodging Trust (NYSE:RLJ) in a research report released on Monday morning. The firm currently has a $23.00 price target on the real estate investment trust’s stock, down from their previous price target of $24.00.
A number of other brokerages have also recently commented on RLJ. Canaccord Genuity cut RLJ Lodging Trust from a buy rating to a hold rating and set a $25.00 price objective for the company. in a research note on Friday, July 15th. Barclays PLC reduced their price objective 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. TheStreet cut RLJ Lodging Trust from a buy rating to a hold rating in a research note on Tuesday, September 20th. Zacks Investment Research raised RLJ Lodging Trust from a hold rating to a buy rating and set a $26.00 price objective for the company in a research note on Wednesday, July 13th. Finally, Robert W. Baird cut RLJ Lodging Trust from an outperform rating to a neutral rating and reduced their price objective for the company from $25.00 to $24.00 in a research note on Monday, August 8th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. RLJ Lodging Trust presently has an average rating of Hold and an average target price of $23.56.
Shares of RLJ Lodging Trust (NYSE:RLJ) opened at 20.68 on Monday. The stock’s 50 day moving average price is $20.64 and its 200-day moving average price is $21.71. RLJ Lodging Trust has a 52 week low of $16.15 and a 52 week high of $25.51. The company has a market cap of $2.56 billion, a PE ratio of 13.13 and a beta of 1.07.
RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.01. The business earned $296.30 million during the quarter, compared to the consensus estimate of $297.13 million. RLJ Lodging Trust had a return on equity of 9.15% and a net margin of 17.07%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Analysts expect that RLJ Lodging Trust will post $1.20 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.32 annualized dividend and a dividend yield of 6.38%. RLJ Lodging Trust’s payout ratio is presently 83.02%.
Several hedge funds have recently modified their holdings of the stock. Princeton Alpha Management LP purchased a new stake in shares of RLJ Lodging Trust during the third quarter valued at about $417,000. Emerald Acquisition Ltd. raised its stake in shares of RLJ Lodging Trust by 30.7% in the third quarter. Emerald Acquisition Ltd. now owns 185,418 shares of the real estate investment trust’s stock valued at $3,900,000 after buying an additional 43,569 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of RLJ Lodging Trust by 0.8% in the third quarter. California State Teachers Retirement System now owns 258,191 shares of the real estate investment trust’s stock valued at $5,430,000 after buying an additional 2,000 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of RLJ Lodging Trust during the third quarter valued at about $351,000. Finally, Stevens Capital Management LP purchased a new stake in shares of RLJ Lodging Trust during the third quarter valued at about $302,000.
RLJ Lodging Trust Company Profile
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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