RLJ Lodging Trust (NYSE:RLJ) Trading Down 5.2% - Here's What Happened

Shares of RLJ Lodging Trust (NYSE:RLJ - Get Free Report) dropped 5.2% during trading on Friday . The company traded as low as $8.46 and last traded at $8.42. Approximately 741,258 shares changed hands during trading, a decline of 50% from the average daily volume of 1,473,127 shares. The stock had previously closed at $8.88.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RLJ. StockNews.com raised RLJ Lodging Trust from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Truist Financial cut shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and cut their price objective for the stock from $11.00 to $10.00 in a report on Friday. Wells Fargo & Company lowered 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 report on Tuesday, February 18th. Finally, KeyCorp cut their price target on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Monday. 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 company currently has a consensus rating of "Hold" and a consensus price target of $10.82.

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RLJ Lodging Trust Stock Down 1.4 %

The company has a market capitalization of $1.27 billion, a PE ratio of 28.88, a P/E/G ratio of 2.87 and a beta of 1.69. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. The firm has a 50 day simple moving average of $9.46 and a two-hundred day simple moving average of $9.59.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share 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 analyst estimates of $324.66 million. Research analysts expect that RLJ Lodging Trust will post 1.37 EPS for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 7.17%. The ex-dividend date is Monday, March 31st. RLJ Lodging Trust's dividend payout ratio is presently 222.22%.

Institutional Trading of RLJ Lodging Trust

Several hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new position in RLJ Lodging Trust in the fourth quarter worth $29,000. US Bancorp DE boosted its stake in shares of RLJ Lodging Trust by 78.2% during the 4th quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 1,417 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter worth approximately $111,000. Xponance Inc. acquired a new position in RLJ Lodging Trust during the fourth quarter worth $112,000. Finally, EntryPoint Capital LLC boosted its position in RLJ Lodging Trust by 23.8% during the fourth quarter. EntryPoint Capital LLC now owns 13,659 shares of the real estate investment trust's stock worth $139,000 after purchasing an additional 2,624 shares in the last quarter. 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.