Investors Sell Shares of RLJ Lodging Trust (RLJ) on Strength (RLJ)
Investors 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 analysts have recently weighed in on RLJ shares. 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 report on Friday, July 15th. Barclays PLC decreased their price objective on shares of RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Friday, August 5th. Credit Suisse Group AG reissued a “buy” rating and set a $25.00 price objective on shares of RLJ Lodging Trust in a report on Thursday, May 5th. Zacks Investment Research raised shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, July 13th. Finally, Robert W. Baird downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $24.00 in a report on Monday, August 8th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.60.
The stock has a market capitalization of $2.88 billion and a price-to-earnings ratio of 14.76. The firm’s 50-day moving average price is $23.28 and its 200-day moving average price is $21.75.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the Zacks’ 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% on a year-over-year basis. On average, equities research analysts forecast that RLJ Lodging Trust will post $1.27 EPS for the current year.
In related news, CFO Leslie D. Hale sold 10,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $23.62, for a total value of $236,200.00. Following the sale, the chief financial officer now owns 283,636 shares of the company’s stock, valued at approximately $6,699,482.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
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.