RLJ Lodging Trust (NYSE:RLJ) Given New $10.00 Price Target at Truist Financial

RLJ Lodging Trust (NYSE:RLJ) had its price target hoisted by analysts at Truist Financial from $7.00 to $10.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective would suggest a potential downside of 9.46% from the stock’s current price.

A number of other research firms also recently issued reports on RLJ. Barclays boosted their target price on shares of RLJ Lodging Trust from $6.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, June 1st. Wells Fargo & Company upped their price target on RLJ Lodging Trust from $7.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, June 1st. Weiss Ratings upgraded RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Wall Street Zen raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of RLJ Lodging Trust in a research note on Thursday, March 26th. They issued a “neutral” rating and a $8.50 target price on the stock. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, RLJ Lodging Trust presently has a consensus rating of “Reduce” and a consensus target price of $9.17.

RLJ Lodging Trust Trading Up 0.7%

Shares of RLJ Lodging Trust stock traded up $0.08 during trading hours on Friday, reaching $11.05. 170,090 shares of the company’s stock were exchanged, compared to its average volume of 2,120,948. RLJ Lodging Trust has a 52-week low of $6.54 and a 52-week high of $11.17. The company has a fifty day moving average of $8.86 and a 200-day moving average of $8.12. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -1,107.50 and a beta of 1.13.

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

Institutional Trading of RLJ Lodging Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in RLJ Lodging Trust by 29.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,374 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of RLJ Lodging Trust by 17.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 10,972 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,661 shares during the period. State of Wyoming raised its holdings in shares of RLJ Lodging Trust by 23.6% during the third quarter. State of Wyoming now owns 9,120 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 1,741 shares during the period. M&G PLC lifted its position in shares of RLJ Lodging Trust by 8.2% in the 3rd quarter. M&G PLC now owns 24,355 shares of the real estate investment trust’s stock worth $170,000 after buying an additional 1,845 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of RLJ Lodging Trust by 1.4% in the 4th quarter. Deutsche Bank AG now owns 181,568 shares of the real estate investment trust’s stock valued at $1,353,000 after buying an additional 2,453 shares during the period. 92.35% of the stock is owned by institutional investors.

RLJ Lodging Trust Company Profile

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.