RLJ Lodging Trust (RLJ) Coverage Initiated at SunTrust Banks, Inc.

Equities research analysts at SunTrust Banks, Inc. initiated coverage on shares of RLJ Lodging Trust (NYSE:RLJ) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

A number of other equities analysts have also commented on RLJ. Royal Bank Of Canada reiterated a “buy” rating and issued a $25.00 price objective on shares of RLJ Lodging Trust in a research note on Friday, August 4th. Boenning Scattergood set a $20.00 price objective on RLJ Lodging Trust and gave the stock a “sell” rating in a research note on Monday, August 7th. Canaccord Genuity reiterated a “hold” rating and issued a $21.00 price objective on shares of RLJ Lodging Trust in a research note on Monday, August 7th. Zacks Investment Research upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, BidaskClub lowered RLJ Lodging Trust from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $24.18.

Shares of RLJ Lodging Trust (RLJ) opened at 22.48 on Thursday. The firm’s 50-day moving average price is $21.62 and its 200-day moving average price is $21.11. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 15.50 and a beta of 1.17. RLJ Lodging Trust has a 52 week low of $18.92 and a 52 week high of $25.10.

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 analysts’ consensus estimates of $0.68 by $0.03. The business 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 revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. Equities research analysts expect that RLJ Lodging Trust will post $1.03 EPS for the current fiscal year.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its stake in RLJ Lodging Trust by 9.1% during the second quarter. Public Employees Retirement System of Ohio now owns 160,595 shares of the real estate investment trust’s stock valued at $3,191,000 after acquiring an additional 13,338 shares during the period. Verition Fund Management LLC bought a new position in RLJ Lodging Trust during the second quarter valued at about $840,000. Arrowstreet Capital Limited Partnership bought a new position in RLJ Lodging Trust during the second quarter valued at about $1,139,000. Cubist Systematic Strategies LLC bought a new position in RLJ Lodging Trust during the second quarter valued at about $820,000. Finally, State Street Corp incr

A number of other equities analysts have also commented on RLJ. Royal Bank Of Canada reiterated a “buy” rating and issued a $25.00 price objective on shares of RLJ Lodging Trust in a research note on Friday, August 4th. Boenning Scattergood set a $20.00 price objective on RLJ Lodging Trust and gave the stock a “sell” rating in a research note on Monday, August 7th. Canaccord Genuity reiterated a “hold” rating and issued a $21.00 price objective on shares of RLJ Lodging Trust in a research note on Monday, August 7th. Zacks Investment Research upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, BidaskClub lowered RLJ Lodging Trust from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $24.18.

Shares of RLJ Lodging Trust (RLJ) opened at 22.48 on Thursday. The firm’s 50-day moving average price is $21.62 and its 200-day moving average price is $21.11. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 15.50 and a beta of 1.17. RLJ Lodging Trust has a 52 week low of $18.92 and a 52 week high of $25.10.

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 analysts’ consensus estimates of $0.68 by $0.03. The business 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 revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. Equities research analysts expect that RLJ Lodging Trust will post $1.03 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://ledgergazette.com/2017/10/19/rlj-lodging-trust-rlj-coverage-initiated-at-suntrust-banks-inc.html.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its stake in RLJ Lodging Trust by 9.1% during the second quarter. Public Employees Retirement System of Ohio now owns 160,595 shares of the real estate investment trust’s stock valued at $3,191,000 after acquiring an additional 13,338 shares during the period. Verition Fund Management LLC bought a new position in RLJ Lodging Trust during the second quarter valued at about $840,000. Arrowstreet Capital Limited Partnership bought a new position in RLJ Lodging Trust during the second quarter valued at about $1,139,000. Cubist Systematic Strategies LLC bought a new position in RLJ Lodging Trust during the second quarter valued at about $820,000. Finally, State Street Corp increased its stake in 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 during the period. 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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