RLJ Lodging Trust (NYSE:RLJ) Stock Rating Upgraded by Wells Fargo & Company

RLJ Lodging Trust (NYSE:RLJ) was upgraded by equities researchers at Wells Fargo & Company to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also recently commented on RLJ. Wall Street Zen upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Barclays increased their price target on RLJ Lodging Trust from $9.00 to $9.50 and gave the stock an “underweight” rating in a research note on Tuesday. Oppenheimer restated an “outperform” rating and set a $13.00 price objective (up from $10.00) on shares of RLJ Lodging Trust in a research note on Thursday, June 18th. Truist Financial increased their target price on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, June 12th. Finally, LADENBURG THALM/SH SH raised their target price on shares of RLJ Lodging Trust from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.83.

RLJ Lodging Trust Trading Up 2.2%

RLJ Lodging Trust stock opened at $12.32 on Thursday. RLJ Lodging Trust has a 52-week low of $6.54 and a 52-week high of $12.51. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -1,232.50 and a beta of 1.09. The firm has a 50-day moving average price of $11.00 and a two-hundred day moving average price of $8.99.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $339.98 million for the quarter, compared to analyst estimates of $323.51 million. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. RLJ Lodging Trust’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 earnings per share. Sell-side analysts expect that RLJ Lodging Trust will post 1.26 earnings per share for the current year.

Institutional Trading of RLJ Lodging Trust

A number of large investors have recently added to or reduced their stakes in RLJ. Donald Smith & CO. Inc. increased its holdings in shares of RLJ Lodging Trust by 23.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 13,140,744 shares of the real estate investment trust’s stock valued at $97,899,000 after buying an additional 2,463,189 shares in the last quarter. Geode Capital Management LLC raised its position in shares of RLJ Lodging Trust by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 3,844,974 shares of the real estate investment trust’s stock worth $28,650,000 after purchasing an additional 114,163 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of RLJ Lodging Trust by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,709,660 shares of the real estate investment trust’s stock worth $27,637,000 after purchasing an additional 74,252 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of RLJ Lodging Trust by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 3,127,412 shares of the real estate investment trust’s stock valued at $23,299,000 after purchasing an additional 94,291 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of RLJ Lodging Trust by 33.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,042,014 shares of the real estate investment trust’s stock valued at $21,903,000 after purchasing an additional 759,913 shares during the period. 92.35% of the stock is currently owned by institutional investors.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.