RLJ Lodging Trust (NYSE:RLJ) Price Target Cut to $11.00

RLJ Lodging Trust (NYSE:RLJ - Free Report) had its price target lowered by Truist Financial from $14.00 to $11.00 in a report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust's stock.

A number of other brokerages also recently commented on RLJ. StockNews.com raised shares of RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research note on Friday, October 11th. Wells Fargo & Company lowered RLJ Lodging Trust from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $11.00 to $9.00 in a research report on Friday, September 13th. Wolfe Research downgraded RLJ Lodging Trust from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. Compass Point downgraded shares of RLJ Lodging Trust from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $18.00 to $10.00 in a report on Monday, August 5th. Finally, Bank of America decreased their price target on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an "underperform" rating for the company in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.71.

RLJ Lodging Trust Trading Up 0.3 %

RLJ traded up $0.03 during trading hours on Monday, reaching $9.07. 1,467,942 shares of the company's stock traded hands, compared to its average volume of 1,376,311. The firm has a 50-day moving average price of $9.28 and a 200 day moving average price of $9.70. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $1.41 billion, a PE ratio of 34.89, a PEG ratio of 0.86 and a beta of 1.69. RLJ Lodging Trust has a 52-week low of $8.79 and a 52-week high of $12.39.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last issued its 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 return on equity of 3.34% and a net margin of 4.93%. The company had revenue of $369.30 million during the quarter, compared to the consensus estimate of $365.67 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. RLJ Lodging Trust's revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts predict that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

RLJ Lodging Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.15 dividend. This is a positive change from RLJ Lodging Trust's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 6.62%. The ex-dividend date was Monday, September 30th. RLJ Lodging Trust's dividend payout ratio (DPR) is presently 230.78%.

Institutional Investors Weigh In On RLJ Lodging Trust

Several institutional investors and hedge funds have recently made changes to their positions in RLJ. Quarry LP increased its holdings in RLJ Lodging Trust by 197.3% in the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust's stock worth $53,000 after buying an additional 3,627 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake 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 during the period. BOKF NA purchased a new position in shares of RLJ Lodging Trust during the first quarter worth $139,000. Allspring Global Investments Holdings LLC lifted its position in RLJ Lodging Trust by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust's stock valued at $141,000 after purchasing an additional 1,229 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in RLJ Lodging Trust by 32.3% in the first quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust's stock valued at $147,000 after purchasing an additional 3,052 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

RLJ Lodging Trust Company Profile

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.