RLJ has been the topic of a number of other reports. Barclays PLC dropped their target price on RLJ Lodging Trust from $24.00 to $22.00 and set an underweight rating on the stock in a research report on Friday, August 5th. Zacks Investment Research lowered RLJ Lodging Trust from a buy rating to a sell rating in a report on Thursday, August 11th. Robert W. Baird lowered RLJ Lodging Trust from an outperform rating to a neutral rating and lowered their price objective for the company from $25.00 to $24.00 in a report on Monday, August 8th. Finally, Canaccord Genuity lowered RLJ Lodging Trust from a buy rating to a hold rating and set a $25.00 price objective for the company. in a report on Friday, July 15th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $25.60.
RLJ Lodging Trust (NYSE:RLJ) opened at 21.90 on Tuesday. The stock has a market capitalization of $2.71 billion, a P/E ratio of 13.90 and a beta of 1.05. RLJ Lodging Trust has a 52 week low of $16.15 and a 52 week high of $27.52. The stock’s 50 day moving average price is $22.75 and its 200-day moving average price is $22.06.
RLJ Lodging Trust (NYSE:RLJ) last announced its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.36. RLJ Lodging Trust had a return on equity of 9.11% and a net margin of 17.13%. The business had revenue of $317.11 million for the quarter, compared to analyst estimates of $318.47 million. During the same period in the previous year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts expect that RLJ Lodging Trust will post $1.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.32 annualized dividend and a dividend yield of 6.03%. RLJ Lodging Trust’s dividend payout ratio is presently 84.08%.
In other news, CFO Leslie D. Hale sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $23.62, for a total transaction of $236,200.00. Following the completion of the transaction, the chief financial officer now directly owns 283,636 shares in the company, valued at $6,699,482.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. increased its position in shares of RLJ Lodging Trust by 6.6% in the second quarter. Macquarie Group Ltd. now owns 41,750 shares of the real estate investment trust’s stock valued at $896,000 after buying an additional 2,600 shares in the last quarter. Royal Bank of Canada increased its position in shares of RLJ Lodging Trust by 19.0% in the second quarter. Royal Bank of Canada now owns 16,633 shares of the real estate investment trust’s stock valued at $357,000 after buying an additional 2,658 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of RLJ Lodging Trust by 11.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,178,963 shares of the real estate investment trust’s stock valued at $25,289,000 after buying an additional 117,053 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of RLJ Lodging Trust during the second quarter valued at about $109,000. Finally, Legal & General Group Plc increased its position in shares of RLJ Lodging Trust by 11.6% in the second quarter. Legal & General Group Plc now owns 331,404 shares of the real estate investment trust’s stock valued at $7,102,000 after buying an additional 34,485 shares in the last quarter.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. The Company owns approximately 130 hotels with over 20,900 rooms, located in approximately 20 states and the District of Columbia, and an interest in a mortgage loan secured by a hotel.
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