Zacks Investment Research Downgrades RLJ Lodging Trust (RLJ) to Sell

RLJ Lodging Trust (NYSE:RLJ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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. “

RLJ has been the topic of a number of other research reports. Canaccord Genuity raised RLJ Lodging Trust from a “hold” rating to a “buy” rating and boosted their target price for the company from $21.00 to $23.00 in a research report on Friday, September 8th. Deutsche Bank assumed coverage on RLJ Lodging Trust in a research report on Tuesday, September 19th. They issued a “hold” rating and a $22.00 target price on the stock. ValuEngine raised RLJ Lodging Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet lowered RLJ Lodging Trust from a “b-” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, Robert W. Baird reissued a “hold” rating and issued a $23.00 target price on shares of RLJ Lodging Trust in a research report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.36.

RLJ Lodging Trust (NYSE RLJ) opened at $22.23 on Thursday. RLJ Lodging Trust has a twelve month low of $19.12 and a twelve month high of $24.60. The company has a market capitalization of $3,917.98, a P/E ratio of 19.67, a P/E/G ratio of 1.87 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.06 and a quick ratio of 2.06.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. RLJ Lodging Trust had a return on equity of 5.80% and a net margin of 12.30%. The firm had revenue of $341.26 million for the quarter, compared to analysts’ expectations of $347.74 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. equities analysts anticipate that RLJ Lodging Trust will post 2.27 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of RLJ. Cohen & Steers Inc. purchased a new stake in shares of RLJ Lodging Trust during the third quarter worth $89,956,000. Land & Buildings Investment Management LLC purchased a new stake in shares of RLJ Lodging Trust during the third quarter worth $77,072,000. AJO LP increased its position in shares of RLJ Lodging Trust by 108.8% during the second quarter. AJO LP now owns 3,814,317 shares of the real estate investment trust’s stock worth $75,790,000 after acquiring an additional 1,987,760 shares during the period. APG Asset Management US Inc. purchased a new stake in shares of RLJ Lodging Trust during the third quarter worth $40,768,000. Finally, Citadel Advisors LLC increased its position in shares of RLJ Lodging Trust by 128.7% during the third quarter. Citadel Advisors LLC now owns 3,006,051 shares of the real estate investment trust’s stock worth $66,133,000 after acquiring an additional 1,691,905 shares during the period. 94.38% of the stock is currently owned by institutional investors and hedge funds.

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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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