Analysts Set RLJ Lodging Trust (NYSE:RLJ) Price Target at $11.29

RLJ Lodging Trust (NYSE:RLJ) has been assigned an average rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $11.29.

Several research analysts recently weighed in on the stock. Wells Fargo & Company cut shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $11.00 to $9.00 in a research report on Friday, September 13th. Oppenheimer increased their price target on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Wolfe Research lowered RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Truist Financial dropped their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, StockNews.com lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th.

Hedge Funds Weigh In On RLJ Lodging Trust

A number of hedge funds have recently bought and sold shares of RLJ. Quarry LP increased its position in shares of RLJ Lodging Trust by 197.3% during the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 3,627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of RLJ Lodging Trust by 34.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 1,564 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in shares of RLJ Lodging Trust during the 3rd quarter valued at about $93,000. Aigen Investment Management LP purchased a new stake in shares of RLJ Lodging Trust during the 3rd quarter valued at about $107,000. Finally, Lazard Asset Management LLC increased its position in shares of RLJ Lodging Trust by 32.3% during the 1st quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 3,052 shares during the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Stock Down 0.7 %

RLJ stock opened at $10.60 on Friday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. The company’s 50 day moving average is $9.46 and its 200 day moving average is $9.49. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.26 and a beta of 1.72. RLJ Lodging Trust has a 1-year low of $8.74 and a 1-year high of $12.39.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.23). The company had revenue of $345.74 million during the quarter, compared to the consensus estimate of $342.93 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. Sell-side analysts predict that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

About RLJ Lodging Trust

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.