RLJ Lodging Trust (RLJ) Trading Up 2.8%
RLJ Lodging Trust (NYSE:RLJ) was 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 changing hands. The stock had previously closed at $23.53.
A number of equities research analysts have recently weighed in on RLJ shares. Zacks Investment Research lowered shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. TheStreet upgraded shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating in a report on Tuesday, April 12th. Bank of America Corp. lowered shares of RLJ Lodging Trust from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $23.00 to $18.00 in a report on Thursday, May 19th. Raymond James Financial Inc. lowered shares of RLJ Lodging Trust from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 27th. Finally, Canaccord Genuity lowered shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a report on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. RLJ Lodging Trust currently has a consensus rating of “Hold” and a consensus target price of $27.09.
The stock has a 50-day moving average of $21.78 and a 200 day moving average of $20.94. The firm has a market cap of $3.02 billion and a P/E ratio of 15.95.
RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.38. During the same period in the previous year, the firm posted $0.51 earnings per share. The firm had revenue of $275.20 million for the quarter, compared to analyst estimates of $274.25 million. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts anticipate that RLJ Lodging Trust will post $1.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.42%.
In other news, CFO Leslie D. Hale sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $22.51, for a total transaction of $112,550.00. Following the transaction, the chief financial officer now directly owns 319,846 shares of the company’s stock, valued at $7,199,733.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Other hedge funds and institutional investors have recently bought and sold shares of the company. I.G. Investment Management LTD. boosted its position 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 during the last quarter. Systematic Financial Management LP purchased a new position in RLJ Lodging Trust during the fourth quarter worth approximately $1,639,000. Marshall Wace LLP purchased a new position in RLJ Lodging Trust during the fourth quarter worth approximately $4,983,000. Advantus Capital Management Inc purchased a new position in RLJ Lodging Trust during the fourth quarter worth approximately $7,787,000. Finally, Morgan Stanley boosted its position in RLJ Lodging Trust by 128.5% in the fourth quarter. Morgan Stanley now owns 516,526 shares of the real estate investment trust’s stock worth $11,172,000 after buying an additional 290,465 shares during 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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