RLJ Lodging Trust (NYSE:RLJ) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

A number of other equities analysts also recently commented on RLJ. Raymond James Financial upgraded shares of RLJ Lodging Trust from a “market perform” rating to a “strong-buy” rating and set a $9.00 target price for the company in a research note on Wednesday, November 12th. Barclays started coverage on RLJ Lodging Trust in a report on Tuesday, January 6th. They set an “underweight” rating and a $6.00 price target for the company. Wells Fargo & Company upgraded RLJ Lodging Trust to a “strong sell” rating in a report on Friday, October 3rd. Baird R W lowered RLJ Lodging Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Robert W. Baird restated a “neutral” rating and set a $7.50 target price (down previously from $9.00) on shares of RLJ Lodging Trust in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.64.

RLJ Lodging Trust Stock Down 2.2%

Shares of RLJ Lodging Trust stock traded down $0.17 on Monday, reaching $7.49. 239,566 shares of the company were exchanged, compared to its average volume of 1,386,555. The stock’s 50 day moving average price is $7.52 and its 200-day moving average price is $7.43. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.55 and a quick ratio of 2.55. RLJ Lodging Trust has a 1-year low of $6.16 and a 1-year high of $10.24. The company has a market cap of $1.13 billion, a P/E ratio of 149.70 and a beta of 1.13.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). RLJ Lodging Trust had a return on equity of 1.78% and a net margin of 2.48%.The firm had revenue of $330.05 million during the quarter, compared to analysts’ expectations of $326.13 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s revenue was down 4.5% compared to the same quarter last year. As a group, equities analysts forecast that RLJ Lodging Trust will post 1.37 EPS for the current year.

RLJ Lodging Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend is Wednesday, December 31st. RLJ Lodging Trust’s payout ratio is presently 1,200.00%.

Insider Activity

In other news, Director Robin Mcbride Zeigler sold 13,413 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $7.51, for a total value of $100,731.63. Following the completion of the sale, the director directly owned 37,159 shares of the company’s stock, valued at approximately $279,064.09. This represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RLJ Lodging Trust

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in RLJ Lodging Trust by 2,721.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 3,347 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of RLJ Lodging Trust in the third quarter valued at about $36,000. KBC Group NV boosted its stake in shares of RLJ Lodging Trust by 55.2% during the second quarter. KBC Group NV now owns 5,258 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 1,870 shares during the period. Danske Bank A S purchased a new position in shares of RLJ Lodging Trust during the third quarter worth about $50,000. Finally, State of Wyoming grew its holdings in shares of RLJ Lodging Trust by 23.6% during the third quarter. State of Wyoming now owns 9,120 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 1,741 shares during the last quarter. 92.35% of the stock is owned by institutional investors and hedge funds.

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.