RLJ Lodging Trust (NYSE:RLJ) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

RLJ Lodging Trust (NYSE:RLJ) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.78 and traded as high as $11.94. RLJ Lodging Trust shares last traded at $11.7050, with a volume of 1,307,186 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RLJ shares. Truist Financial upped their price objective on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, June 12th. Weiss Ratings raised shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Oppenheimer reiterated an “outperform” rating and set a $13.00 target price (up from $10.00) on shares of RLJ Lodging Trust in a report on Thursday, June 18th. UBS Group set a $13.00 price target on RLJ Lodging Trust in a research report on Thursday, June 18th. Finally, Raymond James Financial downgraded RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from $9.00 to $11.00 in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, RLJ Lodging Trust currently has an average rating of “Hold” and a consensus price target of $10.56.

RLJ Lodging Trust Trading Up 1.8%

The firm has a 50-day moving average price of $10.61 and a 200-day moving average price of $8.81. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89. The stock has a market cap of $1.81 billion, a PE ratio of -1,193.50 and a beta of 1.09.

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

RLJ Lodging Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Tuesday, June 30th. RLJ Lodging Trust’s dividend payout ratio is currently -6,000.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

Several institutional investors and hedge funds have recently made changes to their positions in RLJ. Amundi raised its holdings in RLJ Lodging Trust by 12.3% in the 1st quarter. Amundi now owns 90,874 shares of the real estate investment trust’s stock worth $717,000 after acquiring an additional 9,983 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in RLJ Lodging Trust by 11.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 993,552 shares of the real estate investment trust’s stock valued at $7,839,000 after purchasing an additional 103,065 shares during the last quarter. Norges Bank purchased a new stake in RLJ Lodging Trust during the 2nd quarter valued at $1,248,000. Invesco Ltd. increased its holdings in shares of RLJ Lodging Trust by 47.5% in the 2nd quarter. Invesco Ltd. now owns 1,634,179 shares of the real estate investment trust’s stock worth $11,897,000 after purchasing an additional 526,172 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings 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 in the last quarter. 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.