RLJ Lodging Trust (NYSE:RLJ) Sets New 12-Month High – Here’s What Happened

RLJ Lodging Trust (NYSE:RLJ)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.70 and last traded at $9.70, with a volume of 23003 shares traded. The stock had previously closed at $9.61.

Analysts Set New Price Targets

A number of brokerages have issued reports on RLJ. Wall Street Zen raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. LADENBURG THALM/SH SH began coverage on shares of RLJ Lodging Trust in a report on Thursday, March 26th. They issued a “neutral” rating and a $8.50 price target on the stock. Weiss Ratings raised shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Finally, Truist Financial cut their price target on shares of RLJ Lodging Trust from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.50.

RLJ Lodging Trust Price Performance

The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89. The firm’s 50 day moving average is $8.16 and its 200 day moving average is $7.85. The firm has a market cap of $1.48 billion, a P/E ratio of -975.00 and a beta of 1.08.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. The business had revenue of $339.98 million for the quarter, compared to analyst estimates of $323.51 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. RLJ Lodging Trust’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts anticipate that RLJ Lodging Trust will post 1.22 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.60 annualized dividend and a yield of 6.2%. RLJ Lodging Trust’s payout ratio is presently -6,000.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

Several hedge funds have recently bought and sold shares of the business. Amundi boosted its stake in RLJ Lodging Trust by 11.1% during the first quarter. Amundi now owns 84,756 shares of the real estate investment trust’s stock worth $629,000 after acquiring an additional 8,468 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of RLJ Lodging Trust by 123.0% in the first quarter. Quantinno Capital Management LP now owns 128,442 shares of the real estate investment trust’s stock worth $953,000 after buying an additional 70,834 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of RLJ Lodging Trust by 2,111.3% in the first quarter. Renaissance Technologies LLC now owns 299,232 shares of the real estate investment trust’s stock worth $2,220,000 after buying an additional 285,700 shares in the last quarter. Sei Investments Co. lifted its stake in shares of RLJ Lodging Trust by 122.5% in the first quarter. Sei Investments Co. now owns 251,168 shares of the real estate investment trust’s stock worth $1,864,000 after buying an additional 138,259 shares in the last quarter. Finally, State of Wyoming lifted its stake in shares of RLJ Lodging Trust by 12.3% in the first quarter. State of Wyoming now owns 17,904 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 1,963 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.