RLJ Lodging Trust (RLJ) Sees Strong Trading Volume
RLJ Lodging Trust (NYSE:RLJ) shares saw unusually-high trading volume on Thursday . Approximately 932,987 shares were traded during trading, a decline of 16% from the previous session’s volume of 1,110,566 shares.The stock last traded at $23.28 and had previously closed at $23.03.
Several brokerages have recently weighed in on RLJ. Zacks Investment Research downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. Bank of America Corp. downgraded shares of RLJ Lodging Trust from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $23.00 to $18.00 in a research report on Thursday, May 19th. Barclays PLC reduced their price objective on shares of RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Friday, August 5th. Raymond James Financial Inc. downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 27th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $25.00 price objective on shares of RLJ Lodging Trust in a research report on Thursday, May 5th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.60.
The stock has a market capitalization of $2.88 billion and a P/E ratio of 14.76. The company has a 50-day moving average price of $23.28 and a 200 day moving average price of $21.75.
RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.36. The firm earned $317.11 million during the quarter, compared to analyst estimates of $318.47 million. During the same period last year, the business earned $0.74 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Analysts expect that RLJ Lodging Trust will post $1.27 earnings per share for the current year.
In other RLJ Lodging Trust news, CFO Leslie D. Hale sold 10,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $23.62, for a total value of $236,200.00. Following the completion of the sale, the chief financial officer now owns 283,636 shares of the company’s stock, valued at $6,699,482.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
An institutional investor recently bought a new position in RLJ Lodging Trust stock. Systematic Financial Management LP acquired a new stake in shares of RLJ Lodging Trust (NYSE:RLJ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 75,790 shares of the real estate investment trust’s stock, valued at approximately $1,639,000. Systematic Financial Management LP owned 0.06% of RLJ Lodging Trust as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.