RLJ Lodging Trust (RLJ) Trading Up 2.8%
Shares of RLJ Lodging Trust (NYSE:RLJ) were up 2.8% on Friday . The company traded as high as $24.23 and last traded at $24.20, with a volume of 510,510 shares trading hands. The stock had previously closed at $23.53.
A number of analysts recently weighed in on RLJ shares. TheStreet raised shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, April 12th. Zacks Investment Research raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Raymond James Financial Inc. cut shares of RLJ Lodging Trust from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 27th. Canaccord Genuity reaffirmed a “buy” rating on shares of RLJ Lodging Trust in a research note on Wednesday, April 27th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $25.00 price objective on shares of RLJ Lodging Trust in a research note on Thursday, May 5th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $27.09.
The company has a market cap of $3.02 billion and a P/E ratio of 15.95. The stock has a 50-day moving average price of $21.69 and a 200 day moving average price of $20.91.
RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.38. The company had revenue of $275.20 million for the quarter, compared to analyst estimates of $274.25 million. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 EPS. Equities research analysts anticipate that RLJ Lodging Trust will post $1.30 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date of this dividend was Tuesday, June 28th.
In other news, CFO Leslie D. Hale sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $22.51, for a total transaction of $112,550.00. Following the completion of the sale, the chief financial officer now owns 319,846 shares in the company, valued at approximately $7,199,733.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Several hedge funds recently bought and sold shares of RLJ. I.G. Investment Management LTD. boosted its stake in RLJ Lodging Trust by 5.9% in the fourth quarter. I.G. Investment Management LTD. now owns 49,215 shares of the real estate investment trust’s stock worth $1,065,000 after buying an additional 2,724 shares in the last quarter. ProShare Advisors LLC boosted its stake in RLJ Lodging Trust by 17.9% in the fourth quarter. ProShare Advisors LLC now owns 64,669 shares of the real estate investment trust’s stock worth $1,399,000 after buying an additional 9,839 shares in the last quarter. Systematic Financial Management LP bought a new stake in RLJ Lodging Trust during the fourth quarter worth about $1,639,000. Shell Asset Management Co. boosted its stake in RLJ Lodging Trust by 235.8% in the fourth quarter. Shell Asset Management Co. now owns 94,848 shares of the real estate investment trust’s stock worth $2,052,000 after buying an additional 66,601 shares in the last quarter. Finally, LSV Asset Management boosted its stake in RLJ Lodging Trust by 78.5% in the fourth quarter. LSV Asset Management now owns 94,940 shares of the real estate investment trust’s stock worth $2,053,000 after buying an additional 41,740 shares in the last quarter.
RLJ Lodging Trust is a real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. The Company owns approximately 130 hotels with over 20,900 rooms, located in approximately 20 states and the District of Columbia, and an interest in a mortgage loan secured by a hotel.
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