RLJ Lodging Trust (NYSE:RLJ) Hits New 52-Week High – Time to Buy?

RLJ Lodging Trust (NYSE:RLJ)’s stock price reached a new 52-week high during trading on Monday. The company traded as high as $12.94 and last traded at $12.7780, with a volume of 45,925 shares traded. The stock had previously closed at $12.54.

Analysts Set New Price Targets

Several brokerages have commented on RLJ. Zacks Research upgraded shares of RLJ Lodging Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 29th. LADENBURG THALM/SH SH boosted their target price on shares of RLJ Lodging Trust from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Raymond James Financial cut shares of RLJ Lodging Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, September 28th. Barclays raised their price target on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 13th. Finally, Truist Financial boosted their price objective on shares of RLJ Lodging Trust from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.81.

RLJ Lodging Trust Stock Performance

The company has a current ratio of 5.71, a quick ratio of 5.71 and a debt-to-equity ratio of 1.50. The stock has a fifty day moving average price of $11.48 and a 200-day moving average price of $9.99. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 214.95, a PEG ratio of 2.15 and a beta of 1.14.

RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Wednesday, November 4th. The real estate investment trust reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $354.48 million for the quarter, compared to analyst estimates of $343.24 million. RLJ Lodging Trust had a net margin of 2.55% and a return on equity of 1.99%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, analysts anticipate that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.15 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.60 annualized dividend and a yield of 4.7%. RLJ Lodging Trust’s payout ratio is presently 1,000.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

Hedge funds have recently added to or reduced their stakes in the stock. Carolina Wealth Advisors LLC bought a new position in RLJ Lodging Trust in the third quarter valued at approximately $30,000. Signaturefd LLC grew its stake in shares of RLJ Lodging Trust by 234.9% during the third quarter. Signaturefd LLC now owns 3,614 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 2,535 shares during the period. GAMMA Investing LLC grew its stake in shares of RLJ Lodging Trust by 33.2% during the third quarter. GAMMA Investing LLC now owns 3,837 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 957 shares during the period. PNC Financial Services Group Inc. increased its holdings in RLJ Lodging Trust by 29.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,374 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in RLJ Lodging Trust by 54.8% in the third quarter. Nisa Investment Advisors LLC now owns 8,705 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 3,081 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.

About RLJ Lodging Trust

RLJ Lodging Trust (NYSE:RLJ) is a self-advised real estate investment trust that owns a portfolio of premium-branded, focused-service and compact full-service hotels. The company’s properties primarily operate under brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels, among other major lodging companies.

RLJ’s hotels are generally located in urban and densely populated areas, including major business and leisure markets across the United States. The properties provide guest accommodations and related hospitality services, while independent hotel management companies typically oversee day-to-day operations.

The company was formed in 2011 and is named after Robert L.