RLJ Lodging Trust (NYSE:RLJ) Given Consensus Rating of “Reduce” by Brokerages

Shares of RLJ Lodging Trust (NYSE:RLJ) have been given an average recommendation of “Reduce” by the ten ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $10.9444.

Several research firms have weighed in on RLJ. Weiss Ratings downgraded shares of RLJ Lodging Trust from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Bank of America raised their target price on RLJ Lodging Trust from $9.25 to $10.50 and gave the company an “underperform” rating in a research note on Monday, July 20th. Truist Financial boosted their target price on RLJ Lodging Trust from $7.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, June 12th. Wells Fargo & Company upped their price target on RLJ Lodging Trust from $9.00 to $11.00 and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Finally, Barclays increased their price target on RLJ Lodging Trust from $9.00 to $9.50 and gave the stock an “underweight” rating in a report on Tuesday, July 21st.

Institutional Trading of RLJ Lodging Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of RLJ. EverSource Wealth Advisors LLC lifted its stake in shares of RLJ Lodging Trust by 2,721.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 3,347 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of RLJ Lodging Trust by 166.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 2,887 shares in the last quarter. Danske Bank A S bought a new stake in shares of RLJ Lodging Trust during the third quarter worth about $50,000. Los Angeles Capital Management LLC acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter worth about $51,000. Finally, Focus Partners Wealth acquired a new stake in shares of RLJ Lodging Trust in the 3rd quarter worth about $73,000. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Stock Performance

NYSE:RLJ opened at $10.99 on Monday. The company has a fifty day moving average of $11.59 and a 200-day moving average of $9.44. The firm has a market capitalization of $1.68 billion, a P/E ratio of 7.63 and a beta of 1.09. The company has a quick ratio of 5.71, a current ratio of 5.71 and a debt-to-equity ratio of 1.50. RLJ Lodging Trust has a twelve month low of $6.54 and a twelve month high of $12.89.

RLJ Lodging Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Tuesday, June 30th.

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.