StockNews.com Upgrades RLJ Lodging Trust (NYSE:RLJ) to "Hold"

StockNews.com upgraded shares of RLJ Lodging Trust (NYSE:RLJ - Free Report) from a sell rating to a hold rating in a research note published on Thursday morning.

Several other brokerages have also issued reports on RLJ. Oppenheimer increased their target price on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Wells Fargo & Company increased their price objective on RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an "underweight" rating in a report on Monday, December 9th. Finally, Truist Financial dropped their target price on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a "buy" rating on the stock in a report on Monday, October 28th. Two 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $10.92.

RLJ Lodging Trust Trading Down 2.2 %

Shares of NYSE RLJ traded down $0.22 during midday trading on Thursday, hitting $9.56. 868,001 shares of the company traded hands, compared to its average volume of 1,504,454. RLJ Lodging Trust has a 12-month low of $8.74 and a 12-month high of $12.39. The firm has a market cap of $1.46 billion, a P/E ratio of 32.95 and a beta of 1.68. The stock has a 50-day moving average price of $10.08 and a 200 day moving average price of $9.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74.

RLJ Lodging Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 6.28%. RLJ Lodging Trust's payout ratio is presently 206.90%.

Hedge Funds Weigh In On RLJ Lodging Trust

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $32,977,000 after buying an additional 170,484 shares during the last quarter. Barclays PLC raised its holdings in RLJ Lodging Trust by 97.4% in the 3rd quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust's stock worth $2,495,000 after acquiring an additional 134,093 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 acquiring an additional 240,254 shares in the last quarter. Inspire Investing LLC boosted its stake in RLJ Lodging Trust by 22.3% during the 3rd quarter. Inspire Investing LLC now owns 44,682 shares of the real estate investment trust's stock valued at $410,000 after purchasing an additional 8,136 shares during the last quarter. Finally, Creative Planning bought a new stake in shares of RLJ Lodging Trust in the 3rd quarter worth $275,000. Institutional investors 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.