RLJ Lodging Trust (NYSE:RLJ) Price Target Cut to $11.00 by Analysts at Truist Financial

RLJ Lodging Trust (NYSE:RLJ) had its target price cut by equities research analysts at Truist Financial from $14.00 to $11.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target would indicate a potential upside of 21.68% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Friday, October 11th. Compass Point downgraded RLJ Lodging Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $10.00 in a report on Monday, August 5th. Bank of America lowered their target price on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a research note on Monday, July 22nd. Wolfe Research lowered RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company cut RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $11.00 to $9.00 in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.71.

RLJ Lodging Trust Stock Performance

NYSE:RLJ opened at $9.04 on Monday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 34.77, a price-to-earnings-growth ratio of 0.86 and a beta of 1.69. RLJ Lodging Trust has a 1 year low of $8.79 and a 1 year high of $12.39. The firm has a 50 day moving average of $9.29 and a 200-day moving average of $9.72. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.12.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.25). RLJ Lodging Trust had a return on equity of 3.34% and a net margin of 4.93%. The business had revenue of $369.30 million during the quarter, compared to analyst estimates of $365.67 million. During the same period in the prior year, the firm posted $0.56 EPS. RLJ Lodging Trust’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On RLJ Lodging Trust

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of RLJ Lodging Trust by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 25,236,820 shares of the real estate investment trust’s stock valued at $298,299,000 after buying an additional 420,428 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of RLJ Lodging Trust by 46.6% during the 3rd quarter. Donald Smith & CO. Inc. now owns 4,855,122 shares of the real estate investment trust’s stock valued at $44,570,000 after purchasing an additional 1,543,848 shares in the last quarter. LSV Asset Management grew its position in shares of RLJ Lodging Trust by 9.8% in the 2nd quarter. LSV Asset Management now owns 1,699,595 shares of the real estate investment trust’s stock valued at $16,367,000 after purchasing an additional 152,395 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of RLJ Lodging Trust by 2.4% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,591,525 shares of the real estate investment trust’s stock valued at $15,326,000 after purchasing an additional 37,137 shares during the period. Finally, Clearbridge Investments LLC increased its stake in RLJ Lodging Trust by 2.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,343,923 shares of the real estate investment trust’s stock worth $15,885,000 after purchasing an additional 27,746 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

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.