RLJ Lodging Trust (RLJ) Sees Large Volume Increase
Shares of RLJ Lodging Trust (NYSE:RLJ) saw an uptick in trading volume on Thursday . 932,987 shares traded hands during mid-day 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.
RLJ has been the topic of several recent analyst reports. Robert W. Baird lowered RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $24.00 in a report on Monday, August 8th. Zacks Investment Research lowered RLJ Lodging Trust from a “buy” rating to a “sell” rating in a report on Thursday, August 11th. Barclays PLC reduced their target price on RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Friday, August 5th. Canaccord Genuity lowered 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. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $25.00 target price on shares of RLJ Lodging Trust in a report on Thursday, May 5th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $25.60.
The company has a market cap of $2.88 billion and a price-to-earnings ratio of 14.79. The stock’s 50 day moving average price is $23.33 and its 200-day moving average price is $21.79.
RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.36. During the same quarter in the previous year, the company earned $0.74 earnings per share. The company earned $317.11 million during the quarter, compared to analyst estimates of $318.47 million. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts expect 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 on Monday, August 1st. The stock was 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 directly owns 283,636 shares in the company, valued at $6,699,482.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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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