Brokerages Set RLJ Lodging Trust (NYSE:RLJ) PT at $8.64

Shares of RLJ Lodging Trust (NYSE:RLJ) have been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $8.6429.

A number of research firms recently commented on RLJ. Raymond James Financial raised RLJ Lodging Trust from a “market perform” rating to a “strong-buy” rating and set a $9.00 price objective on the stock in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of RLJ Lodging Trust in a research report on Monday, December 29th. Barclays assumed coverage on shares of RLJ Lodging Trust in a research note on Tuesday, January 6th. They issued an “underweight” rating and a $6.00 price objective on the stock. Finally, Zacks Research raised shares of RLJ Lodging Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th.

RLJ Lodging Trust Price Performance

Shares of NYSE:RLJ opened at $7.87 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.55 and a current ratio of 2.55. RLJ Lodging Trust has a 52 week low of $6.16 and a 52 week high of $9.85. The firm has a market cap of $1.19 billion, a PE ratio of 157.40 and a beta of 1.12. The firm’s fifty day moving average is $7.59 and its 200-day moving average is $7.43.

RLJ Lodging Trust (NYSE:RLJ) last announced its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $330.05 million for the quarter, compared to the consensus estimate of $326.13 million. RLJ Lodging Trust had a return on equity of 1.78% and a net margin of 2.48%.The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 earnings per share. Sell-side analysts predict that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 7.6%. RLJ Lodging Trust’s dividend payout ratio (DPR) is 1,200.00%.

Insider Activity

In related news, Director Robin Mcbride Zeigler sold 13,413 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $7.51, for a total transaction of $100,731.63. Following the sale, the director owned 37,159 shares in the company, valued at $279,064.09. This represents a 26.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RLJ Lodging Trust

Institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its holdings in RLJ Lodging Trust by 0.9% in the second quarter. Nordea Investment Management AB now owns 576,941 shares of the real estate investment trust’s stock worth $4,235,000 after acquiring an additional 5,401 shares in the last quarter. Savant Capital LLC acquired a new position in shares of RLJ Lodging Trust during the second quarter worth approximately $399,000. JPMorgan Chase & Co. raised its position in shares of RLJ Lodging Trust by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 4,977,691 shares of the real estate investment trust’s stock worth $36,238,000 after purchasing an additional 137,014 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of RLJ Lodging Trust by 36.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,282,101 shares of the real estate investment trust’s stock worth $16,614,000 after purchasing an additional 614,166 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in RLJ Lodging Trust by 191.1% in the 2nd quarter. Prudential Financial Inc. now owns 740,265 shares of the real estate investment trust’s stock valued at $5,389,000 after purchasing an additional 485,991 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.

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.