RLJ Lodging Trust (NYSE:RLJ) Reaches New 12-Month Low - What's Next?

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $7.20 and last traded at $7.23, with a volume of 636066 shares traded. The stock had previously closed at $7.96.

Analyst Upgrades and Downgrades

RLJ has been the topic of a number of recent analyst reports. StockNews.com raised shares of RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. KeyCorp lowered their price objective on RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company reduced their target price on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a research note on Tuesday, February 18th. Finally, Truist Financial downgraded shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and cut their price target for the company from $11.00 to $10.00 in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $10.82.

Remove Ads

RLJ Lodging Trust Stock Down 4.3 %

The firm's 50-day moving average is $9.02 and its two-hundred day moving average is $9.49. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a market cap of $962.57 million, a P/E ratio of 21.88, a PEG ratio of 2.87 and a beta of 1.51.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.36. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm had revenue of $329.99 million for the quarter, compared to analysts' expectations of $324.66 million. On average, equities research analysts anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The company also recently declared 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 is Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.46%. RLJ Lodging Trust's dividend payout ratio is 222.22%.

Insider Activity at RLJ Lodging Trust

In other news, Director Patricia L. Gibson purchased 10,000 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was bought at an average price of $8.03 per share, with a total value of $80,300.00. Following the acquisition, the director now directly owns 124,217 shares of the company's stock, valued at approximately $997,462.51. This represents a 8.76 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in shares of RLJ Lodging Trust by 0.5% during the fourth quarter. Rhumbline Advisers now owns 282,846 shares of the real estate investment trust's stock worth $2,888,000 after purchasing an additional 1,320 shares during the period. US Bancorp DE lifted its stake in RLJ Lodging Trust by 78.2% in the fourth quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 1,417 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of RLJ Lodging Trust by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 389,527 shares of the real estate investment trust's stock valued at $3,576,000 after buying an additional 1,634 shares during the period. Metis Global Partners LLC increased its position in shares of RLJ Lodging Trust by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 17,594 shares of the real estate investment trust's stock worth $180,000 after acquiring an additional 1,796 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of RLJ Lodging Trust by 1.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 192,700 shares of the real estate investment trust's stock worth $1,769,000 after acquiring an additional 2,500 shares during the period. 92.35% of the stock is 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.