RLJ Lodging Trust (RLJ) Stock Rating Upgraded by ValuEngine
ValuEngine upgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a hold rating to a buy rating in a report released on Monday morning.
A number of other equities research analysts also recently commented on the stock. Robert W. Baird restated a hold rating and issued a $23.00 price objective on shares of RLJ Lodging Trust in a research report on Thursday, September 21st. Deutsche Bank AG began coverage on shares of RLJ Lodging Trust in a research report on Tuesday, September 19th. They issued a hold rating and a $22.00 price objective for the company. Canaccord Genuity upgraded shares of RLJ Lodging Trust from a hold rating to a buy rating and raised their price objective for the company from $21.00 to $23.00 in a research report on Friday, September 8th. Wells Fargo & Company upgraded shares of RLJ Lodging Trust from a market perform rating to an outperform rating and set a $23.00 price objective for the company in a research report on Tuesday, September 5th. Finally, BidaskClub downgraded shares of RLJ Lodging Trust from a sell rating to a strong sell rating in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. RLJ Lodging Trust presently has a consensus rating of Hold and a consensus target price of $24.09.
RLJ Lodging Trust (RLJ) opened at 22.02 on Monday. The stock has a 50 day moving average price of $20.99 and a 200 day moving average price of $21.16. The firm has a market cap of $2.73 billion, a PE ratio of 15.19 and a beta of 1.17. RLJ Lodging Trust has a one year low of $18.92 and a one year high of $25.10.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. The firm had revenue of $292.28 million for the quarter, compared to analyst estimates of $293.16 million. During the same quarter last year, the company posted $0.82 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. Equities research analysts expect that RLJ Lodging Trust will post $1.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Wednesday, August 30th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, August 28th. This represents a $0.88 dividend on an annualized basis and a yield of 4.00%. RLJ Lodging Trust’s payout ratio is currently 30.34%.
In other news, Director Nathaniel A. Davis sold 10,000 shares of RLJ Lodging Trust stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total transaction of $201,100.00. Following the completion of the sale, the director now directly owns 72,928 shares in the company, valued at approximately $1,466,582.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Forgia Robert M. La purchased 5,000 shares of RLJ Lodging Trust stock in a transaction dated Wednesday, August 16th. The shares were bought at an average price of $19.73 per share, with a total value of $98,650.00. Following the completion of the transaction, the director now owns 37,528 shares in the company, valued at approximately $740,427.44. The disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC lifted its position in shares of RLJ Lodging Trust by 8.0% during the 1st quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock valued at $196,000 after acquiring an additional 615 shares during the period. Paragon Capital Management Ltd acquired a new stake in shares of RLJ Lodging Trust during the 2nd quarter valued at approximately $208,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of RLJ Lodging Trust during the 2nd quarter valued at approximately $214,000. Denver Investment Advisors LLC lifted its position in shares of RLJ Lodging Trust by 0.9% during the 2nd quarter. Denver Investment Advisors LLC now owns 11,000 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 100 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of RLJ Lodging Trust by 13.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 11,200 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 1,300 shares during the period.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.
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