RLJ Lodging Trust (NYSE:RLJ - Get Free Report) shares hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $8.26 and last traded at $8.42, with a volume of 5654912 shares traded. The stock had previously closed at $8.88.
Wall Street Analysts Forecast Growth
RLJ has been the subject of several recent research reports. KeyCorp decreased their price target 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. Truist Financial cut RLJ Lodging Trust from a "buy" rating to a "hold" rating and lowered their target price for the stock from $11.00 to $10.00 in a research note on Friday, March 21st. StockNews.com raised RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price objective on RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating for the company in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, RLJ Lodging Trust currently has a consensus rating of "Hold" and an average target price of $10.82.
View Our Latest Report on RLJ Lodging Trust
RLJ Lodging Trust Stock Performance
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 cap of $1.27 billion, a PE ratio of 28.72, a PEG ratio of 2.87 and a beta of 1.69. The stock has a 50 day simple moving average of $9.43 and a two-hundred day simple moving average of $9.59.
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. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The firm had revenue of $329.99 million for the quarter, compared to analysts' expectations of $324.66 million. Equities analysts predict that RLJ Lodging Trust will post 1.37 EPS 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 issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 7.20%. RLJ Lodging Trust's dividend payout ratio is currently 222.22%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of RLJ Lodging Trust by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust's stock valued at $32,977,000 after purchasing an additional 170,484 shares during the period. Barclays PLC lifted its position in shares of RLJ Lodging Trust by 97.4% during the 3rd quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust's stock valued at $2,495,000 after acquiring an additional 134,093 shares during the period. Fisher Asset Management LLC boosted its stake in shares of RLJ Lodging Trust by 7.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,331,818 shares of the real estate investment trust's stock worth $34,018,000 after acquiring an additional 232,393 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter worth approximately $277,000. Finally, JPMorgan Chase & Co. increased its stake in 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 in the last quarter. Institutional investors and hedge funds own 92.35% of the company's stock.
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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