RLJ Lodging Trust (NYSE:RLJ) Sets New 52-Week Low - What's Next?

RLJ Lodging Trust (NYSE:RLJ - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $8.78 and last traded at $8.78, with a volume of 495290 shares traded. The stock had previously closed at $8.85.

Wall Street Analyst Weigh In

A number of research firms have commented on RLJ. Wolfe Research lowered shares of RLJ Lodging Trust from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. Compass Point downgraded RLJ Lodging Trust from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $18.00 to $10.00 in a report on Monday, August 5th. Bank of America lowered their target price on RLJ Lodging Trust from $12.00 to $10.00 and set an "underperform" rating for the company in a research note on Monday, July 22nd. StockNews.com cut RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Monday. Finally, Truist Financial dropped their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a "buy" rating for the company in a report on Monday. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $11.71.

RLJ Lodging Trust Trading Down 0.8 %

The business has a 50 day moving average of $9.26 and a 200 day moving average of $9.68. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 0.86 and a beta of 1.69.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.25). RLJ Lodging Trust had a net margin of 4.93% and a return on equity of 3.34%. The company had revenue of $369.30 million during the quarter, compared to the consensus estimate of $365.67 million. During the same period last year, the company earned $0.56 earnings per share. The business's revenue was up 3.5% compared to the same quarter last year. As a group, research analysts predict that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RLJ Lodging Trust

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in shares of RLJ Lodging Trust by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust's stock valued at $141,000 after buying an additional 1,229 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of RLJ Lodging Trust by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 1,564 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of RLJ Lodging Trust by 0.8% during the third quarter. Asset Management One Co. Ltd. now owns 225,738 shares of the real estate investment trust's stock worth $2,072,000 after purchasing an additional 1,755 shares during the period. ProShare Advisors LLC lifted its holdings in shares of RLJ Lodging Trust by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 27,568 shares of the real estate investment trust's stock valued at $326,000 after purchasing an additional 1,903 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of RLJ Lodging Trust by 2.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 107,116 shares of the real estate investment trust's stock valued at $1,267,000 after purchasing an additional 2,071 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.