RLJ Lodging Trust (NYSE:RLJ) Reaches New 1-Year High – Here’s What Happened

RLJ Lodging Trust (NYSE:RLJ) shares hit a new 52-week high during trading on Monday . The stock traded as high as $12.10 and last traded at $11.9450, with a volume of 2055 shares. The stock had previously closed at $12.03.

Wall Street Analyst Weigh In

RLJ has been the topic of a number of recent research reports. Raymond James Financial downgraded RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and increased their target price for the company from $9.00 to $11.00 in a report on Thursday, May 28th. Barclays increased their price objective on shares of RLJ Lodging Trust from $6.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, June 1st. UBS Group set a $13.00 target price on shares of RLJ Lodging Trust in a report on Thursday, June 18th. LADENBURG THALM/SH SH lifted their price target on shares of RLJ Lodging Trust from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Finally, Truist Financial lifted their target price on RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, June 12th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.56.

RLJ Lodging Trust Price Performance

The firm has a fifty day simple moving average of $9.67 and a 200 day simple moving average of $8.42. The company has a market capitalization of $1.80 billion, a PE ratio of -1,185.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89.

RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. The business had revenue of $339.98 million during the quarter, compared to analysts’ expectations of $323.51 million. RLJ Lodging Trust had a return on equity of 1.37% and a net margin of 1.84%.The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. Equities analysts anticipate that RLJ Lodging Trust will post 1.26 EPS for the current year.

RLJ Lodging Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 5.1%. RLJ Lodging Trust’s dividend payout ratio is -6,000.00%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position in shares of RLJ Lodging Trust by 2,721.1% in 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. Daytona Street Capital LLC purchased a new position in RLJ Lodging Trust during the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. raised its stake in RLJ Lodging Trust by 166.8% in 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 buying an additional 2,887 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in RLJ Lodging Trust during the third quarter worth $36,000. Finally, Danske Bank A S purchased a new stake in RLJ Lodging Trust during the third quarter worth $50,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.

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.