RLJ Lodging Trust (NYSE:RLJ) Given New $10.50 Price Target at Bank of America

RLJ Lodging Trust (NYSE:RLJ) had its target price hoisted by research analysts at Bank of America from $9.25 to $10.50 in a report issued on Monday,Benzinga reports. The firm currently has an “underperform” rating on the real estate investment trust’s stock. Bank of America‘s price objective would indicate a potential downside of 12.45% from the stock’s previous close.

Several other brokerages also recently weighed in on RLJ. Oppenheimer restated an “outperform” rating and issued a $13.00 target price (up from $10.00) on shares of RLJ Lodging Trust in a research note on Thursday, June 18th. Raymond James Financial lowered shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $9.00 to $11.00 in a report on Thursday, May 28th. Zacks Research raised shares of RLJ Lodging Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. UBS Group set a $13.00 target price on RLJ Lodging Trust in a research note on Thursday, June 18th. Finally, Weiss Ratings raised RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, RLJ Lodging Trust currently has an average rating of “Hold” and a consensus price target of $10.56.

RLJ Lodging Trust Stock Up 0.7%

Shares of RLJ stock traded up $0.08 during trading hours on Monday, reaching $11.99. The company had a trading volume of 686,346 shares, compared to its average volume of 2,113,767. The company has a market capitalization of $1.82 billion, a P/E ratio of -1,198.50 and a beta of 1.09. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89. RLJ Lodging Trust has a twelve month low of $6.54 and a twelve month high of $12.07. The stock’s fifty day simple moving average is $10.67 and its 200 day simple moving average is $8.84.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $339.98 million during the quarter, compared to the consensus estimate of $323.51 million. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. RLJ Lodging Trust’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. As a group, sell-side analysts expect that RLJ Lodging Trust will post 1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Amundi increased its position in shares of RLJ Lodging Trust by 11.1% in the 1st quarter. Amundi now owns 84,756 shares of the real estate investment trust’s stock worth $629,000 after purchasing an additional 8,468 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of RLJ Lodging Trust by 123.0% during the first quarter. Quantinno Capital Management LP now owns 128,442 shares of the real estate investment trust’s stock worth $953,000 after purchasing an additional 70,834 shares during the last quarter. Renaissance Technologies LLC grew its stake in 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 purchasing an additional 285,700 shares in the last quarter. Sei Investments Co. grew its stake in 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 purchasing an additional 138,259 shares in the last quarter. Finally, State of Wyoming increased its holdings in 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 valued at $133,000 after buying an additional 1,963 shares during the last quarter. 92.35% of the stock is currently 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.