Brokerages Set RLJ Lodging Trust (RLJ) Target Price at $24.44
RLJ Lodging Trust (NYSE:RLJ) has been given a consensus recommendation of “Hold” by the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $24.44.
A number of equities analysts recently commented on RLJ shares. Janney Montgomery Scott reiterated a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of RLJ Lodging Trust in a research note on Monday, June 5th. Zacks Investment Research upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. BidaskClub downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada reiterated a “buy” rating and set a $25.00 target price on shares of RLJ Lodging Trust in a research note on Friday, August 4th. Finally, Boenning Scattergood set a $20.00 target price on shares of RLJ Lodging Trust and gave the stock a “sell” rating in a research note on Monday, August 7th.
RLJ Lodging Trust (RLJ) traded up 0.33% during mid-day trading on Tuesday, hitting $21.60. The stock had a trading volume of 2,965,460 shares. The firm has a 50-day moving average of $20.37 and a 200-day moving average of $21.25. RLJ Lodging Trust has a 52-week low of $18.92 and a 52-week high of $25.10. The stock has a market cap of $2.67 billion, a P/E ratio of 14.90 and a beta of 1.17.
RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $292.28 million during the quarter, compared to the consensus estimate of $293.16 million. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.16%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, analysts forecast that RLJ Lodging Trust will post $1.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th will be paid a $0.22 dividend. The ex-dividend date is Monday, August 28th. This represents a $0.88 annualized dividend and a yield of 4.07%. RLJ Lodging Trust’s dividend payout ratio is presently 60.69%.
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In other news, Director Nathaniel A. Davis sold 10,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total transaction of $201,100.00. Following the completion of the sale, the director now owns 72,928 shares in the company, valued at $1,466,582.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Forgia Robert M. La bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $19.73 per share, with a total value of $98,650.00. Following the purchase, the director now directly owns 37,528 shares of the company’s stock, valued at approximately $740,427.44. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in RLJ. BlackRock Inc. boosted its stake in shares of RLJ Lodging Trust by 4,829.7% during the first quarter. BlackRock Inc. now owns 11,399,528 shares of the real estate investment trust’s stock worth $268,005,000 after buying an additional 11,168,284 shares during the period. AJO LP boosted its stake in shares of RLJ Lodging Trust by 108.8% during the second quarter. AJO LP now owns 3,814,317 shares of the real estate investment trust’s stock worth $75,790,000 after buying an additional 1,987,760 shares during the period. Citadel Advisors LLC boosted its stake in shares of RLJ Lodging Trust by 2,706.7% during the second quarter. Citadel Advisors LLC now owns 1,314,146 shares of the real estate investment trust’s stock worth $26,112,000 after buying an additional 1,267,324 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of RLJ Lodging Trust by 51.5% during the first quarter. Bank of New York Mellon Corp now owns 2,944,846 shares of the real estate investment trust’s stock worth $69,233,000 after buying an additional 1,001,632 shares during the period. Finally, Duff & Phelps Investment Management Co. boosted its stake in shares of RLJ Lodging Trust by 49.1% during the second quarter. Duff & Phelps Investment Management Co. now owns 2,024,468 shares of the real estate investment trust’s stock worth $40,226,000 after buying an additional 666,350 shares during the period.
About RLJ Lodging Trust
RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.
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