Janney Montgomery Scott started coverage on shares of RLJ Lodging Trust (NYSE:RLJ) in a research report released on Monday. The firm issued a buy rating and a $21.90 price objective on the real estate investment trust’s stock.
A number of other research analysts also recently issued reports on RLJ. Zacks Investment Research raised shares of RLJ Lodging Trust from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Wednesday, July 13th. Barclays PLC reduced their price objective on shares of 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. Canaccord Genuity downgraded shares of RLJ Lodging Trust from a buy rating to a hold rating and set a $25.00 price objective on the stock. in a research report on Friday, July 15th. TheStreet cut shares of RLJ Lodging Trust from a buy rating to a hold rating in a report on Tuesday, September 20th. Finally, Robert W. Baird cut shares of RLJ Lodging Trust from an outperform rating to a neutral rating and dropped their target price for the company from $25.00 to $24.00 in a report on Monday, August 8th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. RLJ Lodging Trust has an average rating of Hold and an average target price of $25.26.
Shares of RLJ Lodging Trust (NYSE:RLJ) opened at 20.89 on Monday. The stock has a market cap of $2.59 billion, a P/E ratio of 13.26 and a beta of 1.05. The company’s 50-day moving average is $22.48 and its 200-day moving average is $22.04. RLJ Lodging Trust has a 12-month low of $16.15 and a 12-month high of $27.52.
RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.36. The business had revenue of $317.11 million for the quarter, compared to the consensus estimate of $318.47 million. RLJ Lodging Trust had a net margin of 17.13% and a return on equity of 9.11%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. On average, equities research analysts anticipate that RLJ Lodging Trust will post $1.27 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Wednesday, September 28th. RLJ Lodging Trust’s payout ratio is 84.08%.
In other RLJ Lodging Trust news, CFO Leslie D. Hale sold 10,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $23.62, for a total transaction of $236,200.00. Following the transaction, the chief financial officer now owns 283,636 shares in the company, valued at approximately $6,699,482.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Pioneer Investment Management Inc. boosted its position in RLJ Lodging Trust by 3.4% in the fourth quarter. Pioneer Investment Management Inc. now owns 101,400 shares of the real estate investment trust’s stock valued at $2,193,000 after buying an additional 3,300 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in RLJ Lodging Trust by 1.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 72,820 shares of the real estate investment trust’s stock valued at $1,575,000 after buying an additional 1,000 shares in the last quarter. Virginia Retirement System bought a new position in RLJ Lodging Trust during the first quarter valued at about $1,066,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in RLJ Lodging Trust by 22.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 28,704 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 5,335 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its position in RLJ Lodging Trust by 285.3% in the first quarter. Teachers Advisors Inc. now owns 735,062 shares of the real estate investment trust’s stock valued at $16,818,000 after buying an additional 544,300 shares in the last quarter.
About RLJ Lodging Trust
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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