RLJ Lodging Trust (NYSE:RLJ) Price Target Raised to $10.50

RLJ Lodging Trust (NYSE:RLJ) had its price target boosted by stock analysts at Wells Fargo & Company from $10.00 to $10.50 in a research note issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 0.10% from the stock’s current price.

Several other brokerages have also recently commented on RLJ. Oppenheimer increased their target price on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Truist Financial reduced their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, October 28th. StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Wolfe Research downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.50.

RLJ Lodging Trust Price Performance

Shares of RLJ traded up $0.06 during mid-day trading on Monday, reaching $10.49. The company had a trading volume of 188,803 shares, compared to its average volume of 1,429,123. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market capitalization of $1.61 billion, a P/E ratio of 36.28, a P/E/G ratio of 2.32 and a beta of 1.72. RLJ Lodging Trust has a twelve month low of $8.74 and a twelve month high of $12.39. The company’s 50-day moving average is $9.50 and its 200-day moving average is $9.49.

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

Institutional Investors Weigh In On RLJ Lodging Trust

A number of hedge funds have recently added to or reduced their stakes in RLJ. Geode Capital Management LLC raised its stake in RLJ Lodging Trust by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,930,177 shares of the real estate investment trust’s stock worth $36,085,000 after buying an additional 44,121 shares during the period. Barclays PLC raised its position in shares of RLJ Lodging Trust by 97.4% in the third quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust’s stock valued at $2,495,000 after purchasing an additional 134,093 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in RLJ Lodging Trust by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 389,527 shares of the real estate investment trust’s stock worth $3,576,000 after purchasing an additional 1,634 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in RLJ Lodging Trust by 1.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 192,700 shares of the real estate investment trust’s stock valued at $1,769,000 after purchasing an additional 2,500 shares during the period. Finally, XTX Topco Ltd increased its stake in RLJ Lodging Trust by 14.1% in the 3rd quarter. XTX Topco Ltd now owns 52,053 shares of the real estate investment trust’s stock worth $478,000 after acquiring an additional 6,428 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-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.