RLJ Lodging Trust (NYSE:RLJ) Price Target Raised to $11.00

RLJ Lodging Trust (NYSE:RLJ) had its price objective raised by Truist Financial from $10.00 to $11.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

A number of other research firms have also weighed in on RLJ. UBS Group set a $13.00 price objective on RLJ Lodging Trust in a research note on Thursday, June 18th. Zacks Research cut RLJ Lodging Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Barclays upped their price target on RLJ Lodging Trust from $9.50 to $11.00 and gave the stock an “underweight” rating in a research note on Thursday, August 27th. Wells Fargo & Company increased their price objective on shares of RLJ Lodging Trust from $9.00 to $11.00 and gave the company an “underweight” rating in a report on Thursday, July 23rd. Finally, Bank of America raised their target price on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the company an “underperform” rating in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $11.22.

RLJ Lodging Trust Stock Down 1.0%

NYSE RLJ opened at $10.91 on Monday. RLJ Lodging Trust has a 52 week low of $6.54 and a 52 week high of $12.89. The company has a market capitalization of $1.66 billion, a P/E ratio of 7.66 and a beta of 1.08. The stock’s 50-day moving average price is $11.44 and its 200-day moving average price is $10.05. 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 (NYSE:RLJ) last issued its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.37. RLJ Lodging Trust had a net margin of 2.00% and a return on equity of 1.52%. The business had revenue of $382.99 million for the quarter, compared to the consensus estimate of $370.49 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. RLJ Lodging Trust has set its FY 2026 guidance at 1.370-1.500 EPS. On average, equities research analysts predict that RLJ Lodging Trust will post 1.33 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 5.5%.

Institutional Investors Weigh In On RLJ Lodging Trust

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted 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 acquiring an additional 1,374 shares during the last quarter. State of Wyoming increased its stake in RLJ Lodging Trust by 12.3% during the first quarter. State of Wyoming now owns 17,904 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 1,963 shares during the last quarter. Resona Asset Management Co. Ltd. raised its position in RLJ Lodging Trust by 7.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 66,813 shares of the real estate investment trust’s stock valued at $502,000 after purchasing an additional 4,891 shares during the period. Inspire Investing LLC raised its position in RLJ Lodging Trust by 11.0% in the first quarter. Inspire Investing LLC now owns 68,998 shares of the real estate investment trust’s stock valued at $512,000 after purchasing an additional 6,836 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of RLJ Lodging Trust by 3.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230,000 shares of the real estate investment trust’s stock valued at $1,714,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-managed real estate investment trust that owns and operates a portfolio of premium-branded, focused-service and compact full-service hotels in the United States. Its properties are generally located in urban and high-barrier-to-entry suburban markets, with an emphasis on business, leisure and other demand-generating locations.

The company’s hotels operate under well-known brands, including offerings affiliated with Marriott International, Hilton Worldwide, Hyatt Hotels and InterContinental Hotels Group.