RLJ Lodging Trust (NYSE:RLJ) Downgraded by Zacks Investment Research

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RLJ Lodging Trust (NYSE:RLJ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

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. “

Several other equities research analysts have also issued reports on RLJ. Capital One Financial began coverage on shares of Summit Hotel Properties in a research report on Tuesday, June 25th. They issued an “equal weight” rating and a $13.00 price objective for the company. Wells Fargo & Co reissued a “buy” rating and issued a $115.00 price objective on shares of Tractor Supply in a research report on Wednesday, May 15th. Finally, SunTrust Banks increased their price objective on shares of Brown & Brown to $40.00 and gave the stock a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $22.13.

NYSE:RLJ opened at $17.22 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market capitalization of $3.04 billion, a P/E ratio of 7.67, a P/E/G ratio of 1.62 and a beta of 1.31. RLJ Lodging Trust has a fifty-two week low of $15.91 and a fifty-two week high of $23.31. The stock’s 50 day moving average is $17.74.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.30). The company had revenue of $399.27 million for the quarter, compared to analysts’ expectations of $402.53 million. RLJ Lodging Trust had a return on equity of 6.19% and a net margin of 11.10%. As a group, research analysts anticipate that RLJ Lodging Trust will post 2.17 earnings per share for the current year.

In other RLJ Lodging Trust news, Director Forgia Robert M. La acquired 5,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was bought at an average price of $17.05 per share, with a total value of $85,250.00. Following the completion of the transaction, the director now directly owns 53,619 shares of the company’s stock, valued at $914,203.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLJ. Bank of New York Mellon Corp grew its holdings in RLJ Lodging Trust by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,461,871 shares of the real estate investment trust’s stock valued at $23,975,000 after purchasing an additional 7,643 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in RLJ Lodging Trust by 16.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 136,918 shares of the real estate investment trust’s stock valued at $2,087,000 after purchasing an additional 19,336 shares in the last quarter. Bessemer Group Inc. acquired a new stake in RLJ Lodging Trust during the 4th quarter valued at $48,000. Hsbc Holdings PLC grew its holdings in RLJ Lodging Trust by 14.4% during the 4th quarter. Hsbc Holdings PLC now owns 28,378 shares of the real estate investment trust’s stock valued at $466,000 after purchasing an additional 3,571 shares in the last quarter. Finally, United Services Automobile Association grew its holdings in RLJ Lodging Trust by 4.0% during the 4th quarter. United Services Automobile Association now owns 61,886 shares of the real estate investment trust’s stock valued at $1,015,000 after purchasing an additional 2,400 shares in the last quarter. 92.10% of the stock is owned by institutional investors and hedge funds.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio consists of 150 hotels with approximately 28,600 rooms, located in 25 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.

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Analyst Recommendations for RLJ Lodging Trust (NYSE:RLJ)

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