RLJ Lodging Trust (NYSE:RLJ - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.62 and last traded at $8.63, with a volume of 656520 shares. The stock had previously closed at $8.91.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on RLJ shares. StockNews.com upgraded RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Wells Fargo & Company cut their price target on RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating for the company in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $10.79.
Read Our Latest Research Report on RLJ Lodging Trust
RLJ Lodging Trust Stock Performance
The stock has a 50-day moving average of $9.58 and a 200 day moving average of $9.62. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 30.91, a price-to-earnings-growth ratio of 2.87 and a beta of 1.69.
RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $329.99 million during the quarter, compared to analyst estimates of $324.66 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. On average, analysts expect that RLJ Lodging Trust will post 1.37 EPS for the current year.
RLJ Lodging Trust Dividend Announcement
The business also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 6.69%. RLJ Lodging Trust's payout ratio is currently 222.22%.
Hedge Funds Weigh In On RLJ Lodging Trust
Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in shares of RLJ Lodging Trust by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust's stock worth $32,977,000 after buying an additional 170,484 shares during the period. Barclays PLC grew its position in shares of RLJ Lodging Trust by 97.4% in the 3rd quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust's stock valued at $2,495,000 after purchasing an additional 134,093 shares during the period. Fisher Asset Management LLC grew its position in shares of RLJ Lodging Trust by 7.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,331,818 shares of the real estate investment trust's stock valued at $34,018,000 after purchasing an additional 232,393 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of RLJ Lodging Trust in the 4th quarter valued at approximately $277,000. Finally, JPMorgan Chase & Co. grew its position in shares of RLJ Lodging Trust by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust's stock valued at $47,429,000 after purchasing an additional 240,254 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.
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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