RLJ Lodging Trust (NYSE:RLJ) Cut to "Sell" at StockNews.com

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

RLJ has been the subject of several other research reports. Wells Fargo & Company lowered RLJ Lodging Trust from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $11.00 to $9.00 in a research note on Friday, September 13th. Compass Point cut RLJ Lodging Trust from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $18.00 to $10.00 in a research report on Monday, August 5th. Wolfe Research cut RLJ Lodging Trust from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 26th. Bank of America reduced their price objective 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. Finally, Truist Financial cut their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, RLJ Lodging Trust has a consensus rating of "Hold" and an average price target of $11.71.

RLJ Lodging Trust Price Performance

RLJ stock traded up $0.45 during midday trading on Wednesday, reaching $9.34. 3,089,696 shares of the stock were exchanged, compared to its average volume of 1,389,307. The company has a fifty day moving average price of $9.23 and a 200 day moving average price of $9.61. RLJ Lodging Trust has a 52 week low of $8.74 and a 52 week high of $12.39. The stock has a market capitalization of $1.45 billion, a PE ratio of 35.35, a P/E/G ratio of 0.84 and a beta of 1.70. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RLJ. Quarry LP grew its position in RLJ Lodging Trust by 197.3% during the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 3,627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in RLJ Lodging Trust by 34.9% during 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 buying an additional 1,564 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in RLJ Lodging Trust during the third quarter worth about $93,000. Aigen Investment Management LP purchased a new stake in RLJ Lodging Trust during the third quarter worth about $107,000. Finally, BOKF NA purchased a new stake in RLJ Lodging Trust during the first quarter worth about $139,000. 92.35% of the stock is owned by hedge funds and other institutional investors.

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.