Janney Montgomery Scott initiated coverage on shares of RLJ Lodging Trust (NYSE:RLJ) in a report published on Monday morning. The firm issued a buy rating and a $21.90 price objective on the real estate investment trust’s stock.
A number of other equities research analysts also recently issued reports on RLJ. Zacks Investment Research upgraded RLJ Lodging Trust from a hold rating to a buy rating and set a $26.00 price target for the company in a research note on Wednesday, July 13th. Canaccord Genuity downgraded RLJ Lodging Trust from a buy rating to a hold rating and set a $25.00 price objective for the company. in a research note on Friday, July 15th. Barclays PLC cut their price objective on RLJ Lodging Trust from $24.00 to $22.00 and set an underweight rating for the company in a research note on Friday, August 5th. Robert W. Baird downgraded RLJ Lodging Trust from an outperform rating to a neutral rating and cut their price objective for the company from $25.00 to $24.00 in a research note on Monday, August 8th. Finally, TheStreet downgraded RLJ Lodging Trust from a buy rating to a hold rating in a research note on Tuesday, September 20th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $25.26.
RLJ Lodging Trust (NYSE:RLJ) opened at 21.08 on Monday. The company has a market capitalization of $2.61 billion, a PE ratio of 13.38 and a beta of 1.05. RLJ Lodging Trust has a 12 month low of $16.15 and a 12 month high of $27.52. The firm’s 50-day moving average is $22.55 and its 200-day moving average is $22.05.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.36. The business earned $317.11 million during the quarter, compared to the consensus estimate of $318.47 million. RLJ Lodging Trust had a return on equity of 9.11% and a net margin of 17.13%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Equities analysts anticipate that RLJ Lodging Trust will post $1.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.32 annualized dividend and a dividend yield of 6.26%. RLJ Lodging Trust’s dividend payout ratio (DPR) is 84.08%.
In other news, CFO Leslie D. Hale sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $23.62, for a total transaction of $236,200.00. Following the sale, the chief financial officer now directly owns 283,636 shares of the company’s stock, valued at approximately $6,699,482.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Pioneer Investment Management Inc. boosted its stake in shares of RLJ Lodging Trust by 3.4% in the fourth quarter. Pioneer Investment Management Inc. now owns 101,400 shares of the real estate investment trust’s stock valued at $2,193,000 after buying an additional 3,300 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of RLJ Lodging Trust by 1.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 72,820 shares of the real estate investment trust’s stock valued at $1,575,000 after buying an additional 1,000 shares during the period. Virginia Retirement System purchased a new stake in shares of RLJ Lodging Trust during the first quarter valued at about $1,066,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of RLJ Lodging Trust by 22.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 28,704 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 5,335 shares during the period. Finally, Teachers Advisors Inc. boosted its stake in shares of RLJ Lodging Trust by 285.3% in the first quarter. Teachers Advisors Inc. now owns 735,062 shares of the real estate investment trust’s stock valued at $16,818,000 after buying an additional 544,300 shares during the period.
About RLJ Lodging Trust
RLJ Lodging Trust is a real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. The Company owns approximately 130 hotels with over 20,900 rooms, located in approximately 20 states and the District of Columbia, and an interest in a mortgage loan secured by a hotel.
Receive News & Ratings for RLJ Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLJ Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.