Wells Fargo & Company Has Lowered Expectations for RLJ Lodging Trust (NYSE:RLJ) Stock Price

RLJ Lodging Trust (NYSE:RLJ) had its price objective lowered by equities researchers at Wells Fargo & Company from $10.50 to $9.75 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.04% from the stock’s previous close.

A number of other brokerages have also weighed in on RLJ. Truist Financial decreased their target price 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. Oppenheimer increased their price objective 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. Finally, StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.79.

RLJ Lodging Trust Stock Down 0.1 %

Shares of RLJ stock traded down $0.01 during mid-day trading on Tuesday, hitting $9.56. The company’s stock had a trading volume of 38,754 shares, compared to its average volume of 1,413,905. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 32.95 and a beta of 1.68. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39. The business has a 50-day moving average price of $9.97 and a 200 day moving average price of $9.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Donald Smith & CO. Inc. increased its stake in shares of RLJ Lodging Trust by 46.6% in the 3rd quarter. Donald Smith & CO. Inc. now owns 4,855,122 shares of the real estate investment trust’s stock worth $44,570,000 after purchasing an additional 1,543,848 shares in the last quarter. Woodline Partners LP purchased a new stake in RLJ Lodging Trust in the fourth quarter worth about $9,714,000. Ameriprise Financial Inc. increased its position in RLJ Lodging Trust by 58.5% in the fourth quarter. Ameriprise Financial Inc. now owns 2,398,066 shares of the real estate investment trust’s stock worth $24,486,000 after buying an additional 885,071 shares in the last quarter. Invenomic Capital Management LP bought a new position in shares of RLJ Lodging Trust in the fourth quarter worth about $9,036,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of RLJ Lodging Trust by 294.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 841,753 shares of the real estate investment trust’s stock valued at $7,727,000 after buying an additional 628,157 shares in the last quarter. Hedge funds and other institutional investors own 92.35% 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.