Truist Financial Lowers RLJ Lodging Trust (NYSE:RLJ) Price Target to $13.00

RLJ Lodging Trust (NYSE:RLJ) had its target price lowered by Truist Financial from $14.00 to $13.00 in a research report report published on Friday, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the company. Oppenheimer cut RLJ Lodging Trust from an outperform rating to a market perform rating and set a $15.00 target price on the stock. in a report on Thursday, July 20th. Barclays decreased their target price on RLJ Lodging Trust from $15.00 to $14.00 and set an equal weight rating for the company in a research note on Thursday, July 27th. StockNews.com initiated coverage on RLJ Lodging Trust in a research report on Thursday, August 17th. They set a sell rating for the company. Finally, Wells Fargo & Company upped their price target on RLJ Lodging Trust from $10.50 to $11.00 in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, RLJ Lodging Trust has an average rating of Hold and an average target price of $14.29.

RLJ Lodging Trust Price Performance

Shares of NYSE:RLJ opened at $9.90 on Friday. The business’s fifty day moving average price is $9.97 and its two-hundred day moving average price is $10.25. The stock has a market cap of $1.56 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 2.63 and a beta of 1.74. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.76 and a current ratio of 3.76. RLJ Lodging Trust has a one year low of $9.27 and a one year high of $12.92.

RLJ Lodging Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Saturday, September 30th will be issued a $0.10 dividend. This is a positive change from RLJ Lodging Trust’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, September 28th. This represents a $0.40 annualized dividend and a dividend yield of 4.04%. RLJ Lodging Trust’s dividend payout ratio is presently 125.00%.

Institutional Investors Weigh In On RLJ Lodging Trust

A number of hedge funds have recently added to or reduced their stakes in RLJ. Norges Bank acquired a new position in RLJ Lodging Trust during the 4th quarter valued at about $33,938,000. Arrowstreet Capital Limited Partnership lifted its position in RLJ Lodging Trust by 232.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,706,282 shares of the real estate investment trust’s stock valued at $18,070,000 after purchasing an additional 1,192,538 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of RLJ Lodging Trust by 49.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,294,607 shares of the real estate investment trust’s stock valued at $46,389,000 after acquiring an additional 1,091,984 shares during the period. State Street Corp raised its position in shares of RLJ Lodging Trust by 14.9% in the 1st quarter. State Street Corp now owns 7,993,522 shares of the real estate investment trust’s stock valued at $112,627,000 after acquiring an additional 1,038,447 shares during the period. Finally, Long Pond Capital LP acquired a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at approximately $6,225,000. Institutional investors own 93.77% of the company’s stock.

RLJ Lodging Trust Company Profile

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 currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.