KeyCorp Lowers RLJ Lodging Trust (NYSE:RLJ) Price Target to $12.00

RLJ Lodging Trust (NYSE:RLJ - Free Report) had its price target trimmed by KeyCorp from $14.00 to $12.00 in a report released on Monday, Marketbeat Ratings reports. The firm currently has an overweight rating on the real estate investment trust's stock.

A number of other analysts have also recently weighed in on RLJ. Truist Financial cut shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and decreased their price target for the stock from $11.00 to $10.00 in a research note on Friday, March 21st. Wells Fargo & Company decreased their target price on shares of 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. Finally, StockNews.com upgraded RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, RLJ Lodging Trust currently has a consensus rating of "Hold" and a consensus price target of $10.82.

RLJ Lodging Trust Stock Performance

Shares of RLJ traded down $0.11 during midday trading on Monday, reaching $8.09. 273,879 shares of the stock were exchanged, compared to its average volume of 1,505,502. RLJ Lodging Trust has a twelve month low of $8.06 and a twelve month high of $11.99. 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 company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.87 and a beta of 1.69. The business's 50-day moving average price is $9.36 and its 200 day moving average price is $9.57.

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RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 EPS 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 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, sell-side analysts expect that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

RLJ Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 7.42%. RLJ Lodging Trust's payout ratio is currently 222.22%.

Hedge Funds Weigh In On RLJ Lodging Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at approximately $29,000. US Bancorp DE grew its position in RLJ Lodging Trust by 78.2% during the fourth quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust's stock worth $33,000 after buying an additional 1,417 shares during the period. CreativeOne Wealth LLC purchased a new position in RLJ Lodging Trust in the fourth quarter valued at about $111,000. Xponance Inc. acquired a new stake in shares of RLJ Lodging Trust during the 4th quarter valued at approximately $112,000. Finally, EntryPoint Capital LLC lifted its position in shares of RLJ Lodging Trust by 23.8% during the 4th quarter. EntryPoint Capital LLC now owns 13,659 shares of the real estate investment trust's stock valued at $139,000 after acquiring an additional 2,624 shares during the period. Institutional investors and hedge funds own 92.35% of the company's stock.

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.