RLJ Lodging Trust (NYSE:RLJ) Sees Large Volume Increase

Shares of RLJ Lodging Trust (NYSE:RLJGet Rating) saw unusually-strong trading volume on Thursday . Approximately 264,895 shares traded hands during mid-day trading, a decline of 86% from the previous session’s volume of 1,895,212 shares.The stock last traded at $10.25 and had previously closed at $10.66.

A number of research analysts recently weighed in on the company. TheStreet raised RLJ Lodging Trust from a “d+” rating to a “c-” rating in a research report on Thursday, May 5th. Truist Financial reduced their price objective on RLJ Lodging Trust to $17.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. Oppenheimer assumed coverage on RLJ Lodging Trust in a research report on Thursday, April 21st. They set an “outperform” rating and a $20.00 price objective for the company. Finally, StockNews.com lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Monday, June 6th. One analyst has rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.33.

The stock has a fifty day simple moving average of $13.21 and a 200 day simple moving average of $13.65. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 1.08.

RLJ Lodging Trust (NYSE:RLJGet Rating) last released its earnings results on Wednesday, May 4th. The real estate investment trust reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.30). The company had revenue of $242.90 million for the quarter, compared to analysts’ expectations of $239.79 million. RLJ Lodging Trust had a negative net margin of 26.67% and a negative return on equity of 11.58%. RLJ Lodging Trust’s revenue for the quarter was up 103.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) earnings per share. On average, sell-side analysts expect that RLJ Lodging Trust will post 1.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. RLJ Lodging Trust’s dividend payout ratio (DPR) is -2.45%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of RLJ Lodging Trust by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,460,113 shares of the real estate investment trust’s stock valued at $36,559,000 after buying an additional 15,078 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of RLJ Lodging Trust by 122.6% in the third quarter. Cubist Systematic Strategies LLC now owns 80,935 shares of the real estate investment trust’s stock valued at $1,203,000 after purchasing an additional 44,575 shares during the period. Voloridge Investment Management LLC boosted its holdings in shares of RLJ Lodging Trust by 617.3% in the third quarter. Voloridge Investment Management LLC now owns 98,009 shares of the real estate investment trust’s stock valued at $1,456,000 after purchasing an additional 84,346 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in shares of RLJ Lodging Trust by 34.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 14,400 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 3,700 shares during the period. Finally, Balyasny Asset Management LLC purchased a new stake in shares of RLJ Lodging Trust in the third quarter valued at approximately $11,562,000. 98.00% of the stock is currently owned by institutional investors.

About RLJ Lodging Trust (NYSE:RLJ)

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio consists of 103 hotels with approximately 22,570 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.

Featured Stories

Receive News & Ratings for RLJ Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLJ Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.