RLJ Lodging Trust (NYSE:RLJ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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 equities research analysts have also recently issued reports on the stock. KeyCorp raised shares of RLJ Lodging Trust from a “sector weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a research note on Tuesday, December 19th. Deutsche Bank increased their price target on shares of RLJ Lodging Trust from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Robert W. Baird reissued a “hold” rating on shares of RLJ Lodging Trust in a research report on Thursday, December 21st. ValuEngine cut shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, SunTrust Banks reissued a “hold” rating on shares of RLJ Lodging Trust in a research report on Friday, March 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. RLJ Lodging Trust presently has a consensus rating of “Hold” and an average target price of $23.27.
Shares of RLJ Lodging Trust (RLJ) opened at $20.03 on Tuesday. RLJ Lodging Trust has a 12 month low of $19.07 and a 12 month high of $23.98. The stock has a market cap of $3,568.63, a price-to-earnings ratio of 38.52, a PEG ratio of 1.71 and a beta of 1.20. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.91.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.08. RLJ Lodging Trust had a net margin of 5.52% and a return on equity of 2.77%. The company had revenue of $462.49 million during the quarter, compared to analysts’ expectations of $442.14 million. analysts forecast that RLJ Lodging Trust will post 2.38 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of RLJ. Cohen & Steers Inc. bought a new position in RLJ Lodging Trust in the 3rd quarter worth $89,956,000. Land & Buildings Investment Management LLC bought a new position in RLJ Lodging Trust in the 3rd quarter worth $77,072,000. Daiwa Securities Group Inc. raised its holdings in RLJ Lodging Trust by 534.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,715,579 shares of the real estate investment trust’s stock worth $81,632,000 after purchasing an additional 3,129,810 shares in the last quarter. Citadel Advisors LLC raised its holdings in RLJ Lodging Trust by 128.7% in the 3rd quarter. Citadel Advisors LLC now owns 3,006,051 shares of the real estate investment trust’s stock worth $66,133,000 after purchasing an additional 1,691,905 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new position in RLJ Lodging Trust in the 3rd quarter worth $18,384,000.
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About RLJ Lodging Trust
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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