RLJ Lodging Trust (NYSE:RLJ) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

A number of other analysts have also weighed in on RLJ. Wall Street Zen raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. UBS Group set a $13.00 price objective on RLJ Lodging Trust in a research note on Thursday, June 18th. Weiss Ratings raised RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 24th. Bank of America boosted their target price on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the stock an “underperform” rating in a report on Monday, July 20th. Finally, Raymond James Financial cut shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $9.00 to $11.00 in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, RLJ Lodging Trust currently has a consensus rating of “Reduce” and a consensus price target of $10.83.

RLJ Lodging Trust Price Performance

Shares of NYSE:RLJ opened at $12.35 on Tuesday. The firm’s 50 day moving average is $11.45 and its two-hundred day moving average is $9.27. The firm has a market capitalization of $1.88 billion, a P/E ratio of -1,234.60 and a beta of 1.09. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.22. RLJ Lodging Trust has a 52 week low of $6.54 and a 52 week high of $12.57.

RLJ Lodging Trust (NYSE:RLJ) last posted 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. The firm had revenue of $339.98 million for the quarter, compared to analysts’ expectations of $323.51 million. RLJ Lodging Trust had a return on equity of 1.37% and a net margin of 1.84%.The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. Analysts anticipate that RLJ Lodging Trust will post 1.26 earnings per share for the current year.

RLJ Lodging Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Tuesday, June 30th. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently -6,000.00%.

Institutional Trading of RLJ Lodging Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in shares of RLJ Lodging Trust by 2,721.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 3,347 shares during the period. Daytona Street Capital LLC acquired a new stake in RLJ Lodging Trust during the fourth quarter valued at $28,000. PNC Financial Services Group Inc. grew its stake in RLJ Lodging Trust by 166.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 2,887 shares in the last quarter. Danske Bank A S purchased a new position in RLJ Lodging Trust in the third quarter valued at about $50,000. Finally, Los Angeles Capital Management LLC acquired a new position in RLJ Lodging Trust in the 4th quarter worth about $51,000. Institutional investors and hedge funds 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.