Investors Sell Shares of RLJ Lodging Trust (RLJ) on Strength (RLJ)
Traders sold shares of RLJ Lodging Trust (NYSE:RLJ) on strength during trading on Thursday. $2.65 million flowed into the stock on the tick-up and $20.38 million flowed out of the stock on the tick-down, for a money net flow of $17.73 million out of the stock. Of all stocks tracked, RLJ Lodging Trust had the 0th highest net out-flow for the day. RLJ Lodging Trust traded up $0.22 for the day and closed at $23.25
Several brokerages have issued reports on RLJ. Zacks Investment Research downgraded shares of RLJ Lodging Trust from a “buy” rating to a “sell” rating in a research note on Thursday, August 11th. Robert W. Baird downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and cut their target price for the company from $25.00 to $24.00 in a research note on Monday, August 8th. Barclays PLC cut their target price on shares of RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Friday, August 5th. Canaccord Genuity downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Friday, July 15th. Finally, Bank of America Corp. downgraded shares of RLJ Lodging Trust from a “buy” rating to an “underperform” rating and cut their target price for the company from $23.00 to $18.00 in a research note on Thursday, May 19th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $25.60.
The stock has a 50 day moving average price of $23.33 and a 200 day moving average price of $21.79. The firm has a market capitalization of $2.88 billion and a PE ratio of 14.79.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.36. During the same period in the prior year, the business earned $0.74 earnings per share. The firm had revenue of $317.11 million for the quarter, compared to the consensus estimate of $318.47 million. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that RLJ Lodging Trust will post $1.27 EPS for the current fiscal year.
In other news, CFO Leslie D. Hale sold 10,000 shares of RLJ Lodging Trust stock in a transaction on Monday, August 1st. The shares were sold at an average price of $23.62, for a total transaction of $236,200.00. Following the transaction, the chief financial officer now directly owns 283,636 shares of the company’s stock, valued at $6,699,482.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
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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