Zacks Investment Research upgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a sell rating to a hold rating in a report published 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 brokerages have also recently commented on RLJ. ValuEngine raised shares of RLJ Lodging Trust from a hold rating to a buy rating in a research note on Friday, December 1st. 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. Robert W. Baird reissued a hold rating on shares of RLJ Lodging Trust in a research note on Thursday, December 21st. Deutsche Bank lifted their price objective on shares of RLJ Lodging Trust from $22.00 to $23.00 and gave the stock a hold rating in a research note on Friday, February 9th. Finally, Boenning Scattergood set a $20.00 price objective on shares of RLJ Lodging Trust and gave the stock a sell rating in a research note on Thursday, March 1st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $23.27.
Shares of RLJ Lodging Trust (NYSE RLJ) opened at $19.31 on Tuesday. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.91. The stock has a market cap of $3,472.47, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.20. RLJ Lodging Trust has a fifty-two week low of $19.07 and a fifty-two week high of $23.98.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $462.49 million for the quarter, compared to the consensus estimate of $442.14 million. RLJ Lodging Trust had a net margin of 5.52% and a return on equity of 2.77%. equities research analysts predict that RLJ Lodging Trust will post 2.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.84%. RLJ Lodging Trust’s payout ratio is currently 253.85%.
Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its stake in shares of RLJ Lodging Trust by 8,118.5% during the 4th quarter. Assetmark Inc. now owns 5,342 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 5,277 shares during the period. Ffcm LLC boosted its stake in shares of RLJ Lodging Trust by 1,105.3% during the 3rd quarter. Ffcm LLC now owns 5,496 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 5,040 shares during the period. Lazard Asset Management LLC purchased a new position in shares of RLJ Lodging Trust during the 4th quarter worth about $142,000. Ameritas Investment Partners Inc. boosted its stake in shares of RLJ Lodging Trust by 38.0% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 14,536 shares of the real estate investment trust’s stock worth $212,000 after purchasing an additional 4,002 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of RLJ Lodging Trust during the 3rd quarter worth about $225,000.
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About RLJ Lodging Trust
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on acquiring premium-branded, focused-service and compact full-service hotels. The Company's portfolio consists of 156 hotels with approximately 30,570 rooms, located in 26 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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