RLJ Lodging Trust (NYSE:RLJ) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) from a hold rating to a sell rating in a report released on Tuesday.

Several other research analysts have also recently issued reports on the stock. KeyCorp cut their target price on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Truist Financial downgraded shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and lowered their price objective for the company from $11.00 to $10.00 in a research note on Friday, March 21st. Finally, Wells Fargo & Company cut their target price on RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.82.

RLJ Lodging Trust Price Performance

Shares of RLJ stock traded up $0.11 during trading hours on Tuesday, hitting $6.89. 3,159,920 shares of the company's stock were exchanged, compared to its average volume of 1,737,521. The company has a market capitalization of $1.04 billion, a PE ratio of 23.74, a PEG ratio of 2.87 and a beta of 1.51. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. RLJ Lodging Trust has a 12-month low of $6.16 and a 12-month high of $11.67. The business's 50 day simple moving average is $8.67 and its 200-day simple moving average is $9.37.

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RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.36. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The company had revenue of $329.99 million for the quarter, compared to analysts' expectations of $324.66 million. On average, equities research analysts anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.15 per share. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 8.71%. RLJ Lodging Trust's dividend payout ratio is presently 222.22%.

Insiders Place Their Bets

In other RLJ Lodging Trust news, Director Patricia L. Gibson acquired 10,000 shares of the business's stock in a transaction on Friday, March 28th. The shares were acquired at an average price of $8.03 per share, for a total transaction of $80,300.00. Following the completion of the acquisition, the director now owns 124,217 shares in the company, valued at $997,462.51. This trade represents a 8.76 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RLJ Lodging Trust

Several large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in shares of RLJ Lodging Trust in the 4th quarter worth about $29,000. US Bancorp DE increased its stake in RLJ Lodging Trust by 78.2% during the 4th quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,417 shares in the last quarter. Versant Capital Management Inc raised its holdings in RLJ Lodging Trust by 402.7% in the first quarter. Versant Capital Management Inc now owns 3,675 shares of the real estate investment trust's stock worth $29,000 after buying an additional 2,944 shares during the last quarter. CreativeOne Wealth LLC bought a new position in shares of RLJ Lodging Trust in the fourth quarter worth approximately $111,000. Finally, Xponance Inc. purchased a new stake in shares of RLJ Lodging Trust during the fourth quarter valued at approximately $112,000. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

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.