RLJ Lodging Trust (NYSE:RLJ - Get Free Report)'s stock price hit a new 52-week low on Friday . The company traded as low as $8.15 and last traded at $8.21, with a volume of 2618269 shares traded. The stock had previously closed at $8.33.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. StockNews.com upgraded shares of RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. KeyCorp cut their price target on RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Truist Financial lowered RLJ Lodging Trust from a "buy" rating to a "hold" rating and decreased 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 for the company in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $10.82.
Check Out Our Latest Research Report on RLJ Lodging Trust
RLJ Lodging Trust Stock Performance
The firm has a market capitalization of $1.21 billion, a PE ratio of 27.57, a PEG ratio of 2.87 and a beta of 1.69. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average of $9.24 and a 200 day moving average of $9.56.
RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.36. The company had revenue of $329.99 million for the quarter, compared to analysts' expectations of $324.66 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. Equities research analysts predict that RLJ Lodging Trust will post 1.37 EPS for the current year.
RLJ Lodging Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 7.50%. The ex-dividend date is Monday, March 31st. RLJ Lodging Trust's dividend payout ratio (DPR) is currently 222.22%.
Insider Transactions at RLJ Lodging Trust
In other news, Director Patricia L. Gibson bought 10,000 shares of RLJ Lodging Trust stock in a transaction that occurred on Friday, March 28th. The shares were acquired at an average price of $8.03 per share, with a total value of $80,300.00. Following the completion of the purchase, the director now directly owns 124,217 shares in the company, valued at $997,462.51. The trade was a 8.76 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On RLJ Lodging Trust
A number of hedge funds and other institutional investors have recently modified their holdings of RLJ. Woodline Partners LP bought a new stake in RLJ Lodging Trust in the 4th quarter worth approximately $9,714,000. Donald Smith & CO. Inc. raised its stake in shares of RLJ Lodging Trust by 18.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 5,756,233 shares of the real estate investment trust's stock worth $58,771,000 after acquiring an additional 901,111 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of RLJ Lodging Trust by 58.5% in the 4th quarter. Ameriprise Financial Inc. now owns 2,398,066 shares of the real estate investment trust's stock worth $24,486,000 after acquiring an additional 885,071 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at $9,036,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of RLJ Lodging Trust by 294.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 841,753 shares of the real estate investment trust's stock valued at $7,727,000 after purchasing an additional 628,157 shares during the last quarter. 92.35% of the stock is currently owned by hedge funds and other institutional investors.
About RLJ Lodging Trust
(
Get Free Report)
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.
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