RLJ Lodging Trust (NYSE:RLJ) Given Average Recommendation of "Hold" by Brokerages

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) has received a consensus rating of "Hold" from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $11.50.

Several brokerages have weighed in on RLJ. Wolfe Research downgraded RLJ Lodging Trust from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. StockNews.com upgraded RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. Truist Financial lowered their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Oppenheimer lifted their target price on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company boosted their target price on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the company an "underweight" rating in a research note on Monday, December 9th.

Institutional Investors Weigh In On RLJ Lodging Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in RLJ Lodging Trust by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 980,894 shares of the real estate investment trust's stock valued at $9,446,000 after buying an additional 51,981 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of RLJ Lodging Trust by 87.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 22,427 shares of the real estate investment trust's stock valued at $216,000 after acquiring an additional 10,483 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of RLJ Lodging Trust by 2.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,591,525 shares of the real estate investment trust's stock valued at $15,326,000 after acquiring an additional 37,137 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of RLJ Lodging Trust in the second quarter worth approximately $158,000. Finally, Wolverine Asset Management LLC increased its position in shares of RLJ Lodging Trust by 219.6% during the second quarter. Wolverine Asset Management LLC now owns 25,600 shares of the real estate investment trust's stock worth $247,000 after purchasing an additional 17,589 shares in the last quarter. Hedge funds and other institutional investors own 92.35% of the company's stock.

RLJ Lodging Trust Stock Up 1.1 %

Shares of RLJ stock traded up $0.11 during trading hours on Wednesday, reaching $10.28. 577,044 shares of the company's stock were exchanged, compared to its average volume of 1,448,926. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 2.31 and a beta of 1.72. RLJ Lodging Trust has a fifty-two week low of $8.74 and a fifty-two week high of $12.39. The stock's 50 day moving average is $9.80 and its 200-day moving average is $9.53.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.23). The business had revenue of $345.74 million for the quarter, compared to analyst estimates of $342.93 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The business's revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Analysts predict that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.84%. The ex-dividend date is Tuesday, December 31st. RLJ Lodging Trust's payout ratio is 206.90%.

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.