RLJ Lodging Trust (NYSE:RLJ) Price Target Lowered to $9.75 at Wells Fargo & Company

RLJ Lodging Trust (NYSE:RLJ - Free Report) had its price objective trimmed by Wells Fargo & Company from $10.50 to $9.75 in a report released on Tuesday,Benzinga reports. The firm currently has an underweight rating on the real estate investment trust's stock.

A number of other analysts have also recently commented on the stock. StockNews.com upgraded shares of RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Oppenheimer upped their price objective on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th. Finally, Truist Financial lowered their price objective on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Monday, October 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, RLJ Lodging Trust has a consensus rating of "Hold" and a consensus target price of $10.79.

RLJ Lodging Trust Trading Down 2.3 %

Shares of RLJ traded down $0.22 during trading hours on Tuesday, reaching $9.36. The stock had a trading volume of 2,297,168 shares, compared to its average volume of 1,476,922. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. RLJ Lodging Trust has a 52 week low of $8.74 and a 52 week high of $12.39. The firm has a 50-day moving average of $9.90 and a 200 day moving average of $9.62. The company has a market cap of $1.43 billion, a P/E ratio of 32.27, a P/E/G ratio of 2.88 and a beta of 1.68.

RLJ Lodging Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date was Tuesday, December 31st. RLJ Lodging Trust's dividend payout ratio (DPR) is presently 206.90%.

Hedge Funds Weigh In On RLJ Lodging Trust

A number of large investors have recently modified their holdings of the business. State Street Corp boosted its stake in shares of RLJ Lodging Trust by 4.8% during the 3rd quarter. State Street Corp now owns 7,397,290 shares of the real estate investment trust's stock worth $68,999,000 after buying an additional 340,271 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in shares of RLJ Lodging Trust by 18.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 5,756,233 shares of the real estate investment trust's stock worth $58,771,000 after buying an additional 901,111 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of RLJ Lodging Trust by 4.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust's stock worth $47,429,000 after buying an additional 240,254 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of RLJ Lodging Trust by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,930,177 shares of the real estate investment trust's stock worth $36,085,000 after buying an additional 44,121 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of RLJ Lodging Trust by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,690,945 shares of the real estate investment trust's stock worth $37,685,000 after buying an additional 98,673 shares during the last quarter. 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.