Oppenheimer Reaffirms “Outperform” Rating for RLJ Lodging Trust (NYSE:RLJ)

RLJ Lodging Trust (NYSE:RLJ)‘s stock had its “outperform” rating reiterated by research analysts at Oppenheimer in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $15.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $13.00. Oppenheimer‘s target price points to a potential upside of 15.25% from the company’s previous close.

Several other research analysts also recently commented on RLJ. Raymond James Financial downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, September 28th. Weiss Ratings upgraded RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Bank of America upped their price target on RLJ Lodging Trust from $9.25 to $10.50 and gave the stock an “underperform” rating in a research note on Monday, July 20th. LADENBURG THALM/SH SH boosted their target price on RLJ Lodging Trust from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Barclays increased their target price on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.06.

RLJ Lodging Trust Stock Performance

Shares of NYSE RLJ traded up $0.14 during mid-day trading on Tuesday, hitting $13.02. The company had a trading volume of 374,164 shares, compared to its average volume of 2,013,958. The company has a current ratio of 5.71, a quick ratio of 5.71 and a debt-to-equity ratio of 1.50. RLJ Lodging Trust has a 1 year low of $7.14 and a 1 year high of $12.98. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 216.45, a P/E/G ratio of 2.18 and a beta of 1.14. The stock’s 50-day moving average price is $11.50 and its 200-day moving average price is $10.02.

RLJ Lodging Trust (NYSE:RLJ) last announced its earnings results on Wednesday, November 4th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. RLJ Lodging Trust had a net margin of 2.55% and a return on equity of 1.99%. The business had revenue of $354.48 million during the quarter, compared to analyst estimates of $343.24 million. During the same period in the previous year, the business posted $0.27 earnings per share. RLJ Lodging Trust’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts forecast that RLJ Lodging Trust will post 1.34 earnings per share for the current year.

Institutional Trading of RLJ Lodging Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of RLJ Lodging Trust by 33.2% in the 3rd quarter. GAMMA Investing LLC now owns 3,837 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 957 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of RLJ Lodging Trust by 29.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,374 shares during the period. Choreo LLC lifted its position in shares of RLJ Lodging Trust by 3.1% in the 3rd quarter. Choreo LLC now owns 46,203 shares of the real estate investment trust’s stock worth $511,000 after purchasing an additional 1,387 shares during the period. Cim Investment Management Inc. boosted its stake in shares of RLJ Lodging Trust by 7.3% during the second quarter. Cim Investment Management Inc. now owns 21,889 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 1,485 shares in the last quarter. Finally, Ethic Inc. increased its holdings in RLJ Lodging Trust by 16.9% during the third quarter. Ethic Inc. now owns 12,049 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 1,745 shares during the period. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a real estate investment trust that owns a portfolio of hotels in the United States. The company focuses primarily on premium-branded, compact full-service hotels, which typically offer lodging and amenities such as dining and meeting facilities.

Its properties are located in a range of markets, including urban areas and other locations near major sources of hotel demand. The hotels operate under well-known brands, while day-to-day property management may be handled by third-party operators.

RLJ Lodging Trust was formed in 2011 and is headquartered in Bethesda, Maryland.