SunTrust Banks, Inc. assumed coverage on shares of RLJ Lodging Trust (NYSE:RLJ) in a research note released on Thursday, MarketBeat Ratings reports. The brokerage issued a hold rating and a $22.00 price target on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered RLJ Lodging Trust from a hold rating to a sell rating in a research note on Wednesday, July 12th. BidaskClub lowered RLJ Lodging Trust from a hold rating to a sell rating in a research note on Wednesday, July 5th. Deutsche Bank AG began coverage on RLJ Lodging Trust in a research note on Tuesday, September 19th. They issued a hold rating and a $22.00 price target on the stock. Canaccord Genuity raised RLJ Lodging Trust from a hold rating to a buy rating and boosted their price target for the company from $21.00 to $23.00 in a research note on Friday, September 8th. Finally, Wells Fargo & Company raised RLJ Lodging Trust from a market perform rating to an outperform rating and set a $23.00 price target on the stock in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $24.00.

Shares of RLJ Lodging Trust (RLJ) traded down 2.57% during mid-day trading on Thursday, hitting $21.98. The stock had a trading volume of 1,773,445 shares. RLJ Lodging Trust has a 1-year low of $18.92 and a 1-year high of $25.10. The stock’s 50-day moving average is $21.75 and its 200-day moving average is $21.12. The firm has a market capitalization of $2.72 billion, a PE ratio of 15.16 and a beta of 1.17.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The company had revenue of $292.28 million for the quarter, compared to analyst estimates of $293.16 million. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. Equities analysts expect that RLJ Lodging Trust will post $1.03 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.44 annualized dividend and a dividend yield of 2.00%. RLJ Lodging Trust’s dividend payout ratio is 30.34%.

In other news, Director Forgia Robert M. La acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was purchased at an average price of $19.73 per share, for a total transaction of $98,650.00. Following the completion of the acquisition, the director now directly owns 37,528 shares in the company, valued at approximately $740,427.44. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nathaniel A. Davis sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total value of $201,100.00. Following the sale, the director now owns 72,928 shares of the company’s stock, valued at approximately $1,466,582.08. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of RLJ Lodging Trust by 1.5% during the second quarter. Vanguard Group Inc. now owns 20,084,086 shares of the real estate investment trust’s stock valued at $399,071,000 after acquiring an additional 300,010 shares in the last quarter. BlackRock Inc. increased its holdings in shares of RLJ Lodging Trust by 7.5% during the second quarter. BlackRock Inc. now owns 12,256,164 shares of the real estate investment trust’s stock valued at $243,529,000 after acquiring an additional 856,636 shares in the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of RLJ Lodging Trust by 6.6% during the second quarter. Lasalle Investment Management Securities LLC now owns 7,289,174 shares of the real estate investment trust’s stock valued at $144,836,000 after acquiring an additional 451,443 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of RLJ Lodging Trust by 6.1% during the second quarter. JPMorgan Chase & Co. now owns 5,743,188 shares of the real estate investment trust’s stock valued at $114,117,000 after acquiring an additional 331,184 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of RLJ Lodging Trust by 2.4% during the second quarter. State Street Corp now owns 4,831,260 shares of the real estate investment trust’s stock valued at $96,267,000 after acquiring an additional 111,681 shares in the last quarter. Hedge funds and other institutional investors own 99.24% of the company’s stock.

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.

Analyst Recommendations for RLJ Lodging Trust (NYSE:RLJ)

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