RLJ Lodging Trust (NYSE:RLJ) traded up 5.3% during mid-day trading on Friday after Deutsche Bank raised their price target on the stock from $22.00 to $23.00. Deutsche Bank currently has a hold rating on the stock. RLJ Lodging Trust traded as high as $21.93 and last traded at $21.70. 2,252,501 shares were traded during trading, an increase of 67% from the average session volume of 1,346,125 shares. The stock had previously closed at $20.60.
Several other brokerages also recently weighed in on RLJ. KeyCorp upgraded RLJ Lodging Trust from a “sector weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a report on Tuesday, December 19th. Robert W. Baird restated a “hold” rating on shares of RLJ Lodging Trust in a report on Thursday, December 21st. SunTrust Banks began coverage on RLJ Lodging Trust in a report on Thursday, October 19th. They set a “hold” rating and a $22.00 price objective on the stock. Zacks Investment Research downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Finally, ValuEngine upgraded RLJ Lodging Trust from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. RLJ Lodging Trust has an average rating of “Hold” and a consensus price target of $23.45.
Several institutional investors have recently bought and sold shares of RLJ. UBS Asset Management Americas Inc. lifted its position in RLJ Lodging Trust by 43.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 530,355 shares of the real estate investment trust’s stock worth $11,652,000 after acquiring an additional 160,328 shares during the period. Schroder Investment Management Group lifted its position in RLJ Lodging Trust by 9.0% during the 4th quarter. Schroder Investment Management Group now owns 61,472 shares of the real estate investment trust’s stock worth $1,351,000 after acquiring an additional 5,100 shares during the period. Bank of New York Mellon Corp lifted its position in RLJ Lodging Trust by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,438,758 shares of the real estate investment trust’s stock worth $31,609,000 after acquiring an additional 28,299 shares during the period. Forsta AP Fonden acquired a new stake in RLJ Lodging Trust during the 4th quarter worth about $1,356,000. Finally, Sei Investments Co. lifted its position in RLJ Lodging Trust by 14.9% during the 4th quarter. Sei Investments Co. now owns 656,452 shares of the real estate investment trust’s stock worth $14,423,000 after acquiring an additional 85,114 shares during the period. 95.28% of the stock is owned by hedge funds and other institutional investors.
The firm has a market capitalization of $4,000.00, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.90.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $347.74 million. During the same quarter in the previous year, the business earned $0.69 EPS. RLJ Lodging Trust’s revenue for the quarter was up 15.2% compared to the same quarter last year. equities analysts predict that RLJ Lodging Trust will post 2.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.08%. This is a boost from RLJ Lodging Trust’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, December 28th. RLJ Lodging Trust’s payout ratio is presently 173.68%.
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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.
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