Zacks Investment Research upgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a sell rating to a hold rating in a research note released on Thursday morning.
According to Zacks, “RLJ Lodging Trust is a REIT focused on investing primarily in premium-branded, focused-service, and compact full-service hotels. It plans to own hotels concentrated in urban and dense suburban markets. “
RLJ has been the subject of several other research reports. ValuEngine downgraded RLJ Lodging Trust from a hold rating to a sell rating in a report on Wednesday, August 8th. Wells Fargo & Co downgraded RLJ Lodging Trust from an outperform rating to a market perform rating in a report on Tuesday, August 7th. Barclays raised RLJ Lodging Trust from an equal weight rating to an overweight rating and set a $23.00 price objective for the company in a report on Friday, June 1st. Finally, Boenning Scattergood set a $19.00 price objective on RLJ Lodging Trust and gave the company a sell rating in a report on Friday, May 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $22.43.
NYSE:RLJ traded down $0.09 during trading hours on Thursday, reaching $22.22. 3,895 shares of the stock were exchanged, compared to its average volume of 824,898. RLJ Lodging Trust has a twelve month low of $18.67 and a twelve month high of $23.97. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.82. The company has a market cap of $3.88 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.40). RLJ Lodging Trust had a return on equity of 3.11% and a net margin of 5.72%. The firm had revenue of $484.69 million for the quarter, compared to analyst estimates of $488.62 million. analysts anticipate that RLJ Lodging Trust will post 2.33 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zeke Capital Advisors LLC acquired a new stake in shares of RLJ Lodging Trust in the 2nd quarter valued at approximately $206,000. Truvestments Capital LLC bought a new stake in RLJ Lodging Trust in the 2nd quarter valued at $235,000. Tower Research Capital LLC TRC raised its stake in RLJ Lodging Trust by 115.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,056 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 6,456 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in RLJ Lodging Trust in the 1st quarter valued at $261,000. Finally, Oppenheimer Asset Management Inc. raised its stake in RLJ Lodging Trust by 72.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,649 shares of the real estate investment trust’s stock valued at $343,000 after acquiring an additional 7,421 shares during the period. 98.70% of the stock is owned by institutional investors.
About RLJ Lodging Trust
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on acquiring premium-branded, focused-service and compact full-service hotels. The Company's portfolio consists of 156 hotels with approximately 30,570 rooms, located in 26 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
Recommended Story: Diversification in Your Portfolio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for RLJ Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLJ Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.