According to Zacks, “RLJ Lodging Trust is a REIT focused on investing primarily in premium-branded, focused-service, and compact full-service hotels. It plans to own hotels concentrated in urban and dense suburban markets. “
A number of other analysts have also recently commented on the company. Janney Montgomery Scott initiated coverage on RLJ Lodging Trust in a research report on Monday, September 26th. They issued a buy rating and a $21.90 price target for the company. TheStreet cut RLJ Lodging Trust from a buy rating to a hold rating in a research report on Tuesday, September 20th. Robert W. Baird cut RLJ Lodging Trust from an outperform rating to a neutral rating and cut their target price for the stock from $25.00 to $24.00 in a research report on Monday, August 8th. Barclays PLC cut their target price on RLJ Lodging Trust from $24.00 to $22.00 and set an underweight rating for the company in a research report on Friday, August 5th. Finally, Canaccord Genuity cut RLJ Lodging Trust from a buy rating to a hold rating and set a $25.00 target price for the company. in a research report on Friday, July 15th. Three 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 company. The company has an average rating of Hold and an average target price of $25.26.
Shares of RLJ Lodging Trust (NYSE:RLJ) opened at 20.72 on Tuesday. RLJ Lodging Trust has a 52-week low of $16.15 and a 52-week high of $26.78. The company has a market cap of $2.56 billion, a P/E ratio of 13.16 and a beta of 1.12. The company has a 50-day moving average price of $21.71 and a 200-day moving average price of $21.93.
RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.36. The business earned $317.11 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. On average, equities analysts predict that RLJ Lodging Trust will post $1.27 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.37%. The ex-dividend date was Wednesday, September 28th. RLJ Lodging Trust’s dividend payout ratio is presently 84.08%.
In other RLJ Lodging Trust news, CFO Leslie D. Hale sold 10,000 shares of the firm’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 completion of the transaction, the chief financial officer now owns 283,636 shares in the company, valued at approximately $6,699,482.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.40% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. raised its stake in 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 last quarter. Teachers Advisors Inc. raised its stake in 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 last quarter. Prudential Financial Inc. raised its stake in RLJ Lodging Trust by 73.6% in the first quarter. Prudential Financial Inc. now owns 610,060 shares of the real estate investment trust’s stock valued at $13,958,000 after buying an additional 258,600 shares during the last quarter. BlackRock Japan Co. Ltd raised its stake in RLJ Lodging Trust by 18.1% in the first quarter. BlackRock Japan Co. Ltd now owns 110,901 shares of the real estate investment trust’s stock valued at $2,537,000 after buying an additional 17,034 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in RLJ Lodging Trust during the first quarter valued at about $1,362,000.
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.
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