RLJ Lodging Trust (RLJ) Receives $23.11 Consensus Target Price from Analysts
RLJ Lodging Trust (NYSE:RLJ) has earned an average recommendation of “Hold” from the twelve research firms that are presently covering the stock. Four research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $23.25.
Several research analysts have commented on the stock. Canaccord Genuity reissued a “hold” rating and issued a $21.00 price target on shares of RLJ Lodging Trust in a report on Friday, November 4th. Zacks Investment Research downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Thursday, October 20th. Barclays PLC dropped their price objective on shares of RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, August 5th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $23.00 price objective (down from $24.00) on shares of RLJ Lodging Trust in a report on Monday, November 7th. Finally, Robert W. Baird downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $24.00 in a report on Monday, August 8th.
Institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC boosted its position in RLJ Lodging Trust by 10.1% in the third quarter. Profund Advisors LLC now owns 11,539 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 1,061 shares during the last quarter. Morgan Stanley boosted its position in RLJ Lodging Trust by 148.8% in the third quarter. Morgan Stanley now owns 1,481,378 shares of the real estate investment trust’s stock worth $31,153,000 after buying an additional 885,965 shares during the last quarter. Pacer Advisors Inc. boosted its position in RLJ Lodging Trust by 9.2% in the third quarter. Pacer Advisors Inc. now owns 13,478 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 1,135 shares during the last quarter. Principal Financial Group Inc. boosted its position in RLJ Lodging Trust by 1.7% in the third quarter. Principal Financial Group Inc. now owns 16,582 shares of the real estate investment trust’s stock worth $349,000 after buying an additional 284 shares during the last quarter. Finally, Princeton Alpha Management LP purchased a new position in RLJ Lodging Trust during the third quarter worth about $417,000.
Shares of RLJ Lodging Trust (NYSE:RLJ) opened at 21.68 on Monday. RLJ Lodging Trust has a 12 month low of $16.15 and a 12 month high of $24.81. The company has a market cap of $2.68 billion, a PE ratio of 13.77 and a beta of 1.07. The firm’s 50-day moving average is $20.62 and its 200-day moving average is $21.70.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by $0.01. RLJ Lodging Trust had a net margin of 17.07% and a return on equity of 9.15%. The firm earned $296.30 million during the quarter, compared to the consensus estimate of $297.13 million. During the same period in the previous year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts predict that RLJ Lodging Trust will post $1.20 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend was Wednesday, September 28th. RLJ Lodging Trust’s payout ratio is 83.02%.
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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