RLJ Lodging Trust (NYSE:RLJ) Reaches New 52-Week Low - Here's Why

RLJ Lodging Trust (NYSE:RLJ - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.16 and last traded at $6.33, with a volume of 236194 shares traded. The stock had previously closed at $6.35.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RLJ. Truist Financial cut RLJ Lodging Trust from a "buy" rating to a "hold" rating and lowered their price target for the company from $11.00 to $10.00 in a research report on Friday, March 21st. KeyCorp dropped their target price on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. StockNews.com lowered shares of RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price objective on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating for the company in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, RLJ Lodging Trust presently has an average rating of "Hold" and a consensus price target of $10.82.

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RLJ Lodging Trust Stock Down 2.5 %

The firm's 50-day moving average is $8.67 and its two-hundred day moving average is $9.37. 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 $1.02 billion, a P/E ratio of 23.17, a PEG ratio of 2.87 and a beta of 1.51.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.36. The business 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, 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 8.93%. RLJ Lodging Trust's dividend payout ratio is currently 222.22%.

Insider Activity at RLJ Lodging Trust

In other RLJ Lodging Trust news, Director Patricia L. Gibson bought 10,000 shares of RLJ Lodging Trust stock in a transaction dated Friday, March 28th. The stock was bought at an average cost of $8.03 per share, for a total transaction of $80,300.00. Following the purchase, the director now owns 124,217 shares of the company's stock, valued at $997,462.51. The trade was a 8.76 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RLJ Lodging Trust

Several institutional investors and hedge funds have recently modified their holdings of RLJ. GF Fund Management CO. LTD. bought a new position in RLJ Lodging Trust in the 4th quarter valued at about $29,000. Versant Capital Management Inc lifted its holdings in RLJ Lodging Trust by 402.7% during the 1st quarter. Versant Capital Management Inc now owns 3,675 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 2,944 shares during the last quarter. US Bancorp DE boosted its stake in RLJ Lodging Trust by 78.2% in the 4th quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,417 shares during the period. CreativeOne Wealth LLC acquired a new position in RLJ Lodging Trust in the 4th quarter valued at $111,000. Finally, Xponance Inc. acquired a new stake in shares of RLJ Lodging Trust during the fourth quarter worth $112,000. 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.