RLJ Lodging Trust (NYSE:RLJ) Reaches New 52-Week High – Here’s Why

Shares of RLJ Lodging Trust (NYSE:RLJ) reached a new 52-week high during trading on Thursday . The stock traded as high as $10.91 and last traded at $10.9590, with a volume of 96134 shares. The stock had previously closed at $10.64.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RLJ. Weiss Ratings upgraded shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Truist Financial dropped their target price on shares of RLJ Lodging Trust from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Barclays increased their target price on shares of RLJ Lodging Trust from $6.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, June 1st. Wall Street Zen upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Sunday. Finally, LADENBURG THALM/SH SH began coverage on shares of RLJ Lodging Trust in a report on Thursday, March 26th. They issued a “neutral” rating and a $8.50 price target on the stock. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $8.67.

RLJ Lodging Trust Stock Performance

The firm’s 50-day moving average price is $8.79 and its two-hundred day moving average price is $8.10. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -1,084.50 and a beta of 1.13.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The firm had revenue of $339.98 million for the quarter, compared to analysts’ expectations of $323.51 million. During the same quarter in the previous year, the company posted $0.31 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that RLJ Lodging Trust will post 1.22 EPS for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 5.5%. RLJ Lodging Trust’s dividend payout ratio is presently -6,000.00%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in RLJ Lodging Trust by 29.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,374 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its position in RLJ Lodging Trust by 17.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 10,972 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 1,661 shares during the last quarter. State of Wyoming lifted its position in RLJ Lodging Trust by 23.6% in the third quarter. State of Wyoming now owns 9,120 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 1,741 shares during the last quarter. M&G PLC lifted its position in RLJ Lodging Trust by 8.2% in the third quarter. M&G PLC now owns 24,355 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 1,845 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of RLJ Lodging Trust by 1.4% during the fourth quarter. Deutsche Bank AG now owns 181,568 shares of the real estate investment trust’s stock worth $1,353,000 after purchasing an additional 2,453 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.