RLJ Lodging Trust (NYSE:RLJ) Sets New 12-Month High – Still a Buy?

RLJ Lodging Trust (NYSE:RLJ)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $11.26 and last traded at $11.2450, with a volume of 1642136 shares changing hands. The stock had previously closed at $11.07.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Raymond James Financial downgraded RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $9.00 to $11.00 in a research report on Thursday, May 28th. Barclays increased their price objective on RLJ Lodging Trust from $6.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, June 1st. Truist Financial boosted their target price on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, June 12th. Wall Street Zen upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. 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 for the company. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, RLJ Lodging Trust presently has a consensus rating of “Reduce” and a consensus price target of $9.17.

RLJ Lodging Trust Stock Performance

The firm has a fifty day simple moving average of $9.09 and a 200 day simple moving average of $8.20. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.22. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -1,124.50 and a beta of 1.13.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. RLJ Lodging Trust had a return on equity of 1.37% and a net margin of 1.84%.The company had revenue of $339.98 million during the quarter, compared to the consensus estimate of $323.51 million. During the same quarter last year, the company earned $0.31 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts expect that RLJ Lodging Trust will post 1.26 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 30th. RLJ Lodging Trust’s dividend payout ratio (DPR) is -6,000.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

Several institutional investors and hedge funds have recently bought and sold shares of RLJ. Amundi boosted its position in shares of RLJ Lodging Trust by 11.1% during the 1st quarter. Amundi now owns 84,756 shares of the real estate investment trust’s stock valued at $629,000 after acquiring an additional 8,468 shares in the last quarter. Quantinno Capital Management LP raised its position in RLJ Lodging Trust by 123.0% in the first quarter. Quantinno Capital Management LP now owns 128,442 shares of the real estate investment trust’s stock worth $953,000 after purchasing an additional 70,834 shares in the last quarter. Renaissance Technologies LLC raised its position in RLJ Lodging Trust by 2,111.3% in the first quarter. Renaissance Technologies LLC now owns 299,232 shares of the real estate investment trust’s stock worth $2,220,000 after purchasing an additional 285,700 shares in the last quarter. Sei Investments Co. lifted its stake in RLJ Lodging Trust by 122.5% during the first quarter. Sei Investments Co. now owns 251,168 shares of the real estate investment trust’s stock worth $1,864,000 after purchasing an additional 138,259 shares during the period. Finally, State of Wyoming boosted its holdings in RLJ Lodging Trust by 12.3% during the first quarter. State of Wyoming now owns 17,904 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 1,963 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Company Profile

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.