Deutsche Bank AG Begins Coverage on RLJ Lodging Trust (RLJ)
Deutsche Bank AG assumed coverage on shares of RLJ Lodging Trust (NYSE:RLJ) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $22.00 target price on the real estate investment trust’s stock.
RLJ has been the subject of a number of other reports. ValuEngine cut RLJ Lodging Trust from a buy rating to a hold rating in a research note on Friday, September 1st. Zacks Investment Research cut RLJ Lodging Trust from a hold rating to a sell rating in a research note on Wednesday, July 12th. Bank of America Corporation began coverage on RLJ Lodging Trust in a research note on Monday, August 14th. They issued a neutral rating and a $22.00 price target for the company. Canaccord Genuity upgraded RLJ Lodging Trust from a hold rating to a buy rating and increased their price target for the company from $21.00 to $23.00 in a research note on Friday, September 8th. Finally, Boenning Scattergood reiterated a sell rating and issued a $19.50 price target on shares of RLJ Lodging Trust in a research note on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $24.09.
RLJ Lodging Trust (RLJ) opened at 21.84 on Tuesday. RLJ Lodging Trust has a 52-week low of $18.92 and a 52-week high of $25.10. The stock has a 50 day moving average price of $20.42 and a 200 day moving average price of $21.20. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 15.06 and a beta of 1.17.
RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share 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 analysts’ expectations of $293.16 million. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 EPS. Analysts expect that RLJ Lodging Trust will post $1.19 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, August 30th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Monday, August 28th. RLJ Lodging Trust’s payout ratio is 60.69%.
In other news, Director Forgia Robert M. La acquired 5,000 shares of RLJ Lodging Trust stock in a transaction dated Wednesday, August 16th. The stock was purchased at an average cost of $19.73 per share, for a total transaction of $98,650.00. Following the completion of the purchase, the director now directly owns 37,528 shares in the company, valued at approximately $740,427.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nathaniel A. Davis sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $20.11, for a total value of $201,100.00. Following the completion of the transaction, the director now owns 72,928 shares of the company’s stock, valued at $1,466,582.08. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in shares of RLJ Lodging Trust by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 160,595 shares of the real estate investment trust’s stock worth $3,191,000 after purchasing an additional 13,338 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of RLJ Lodging Trust in the second quarter worth about $840,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of RLJ Lodging Trust in the second quarter worth about $1,139,000. Cubist Systematic Strategies LLC purchased a new position in shares of RLJ Lodging Trust in the second quarter worth about $820,000. Finally, State Street Corp raised its stake in shares of RLJ Lodging Trust by 2.4% in the second quarter. State Street Corp now owns 4,831,260 shares of the real estate investment trust’s stock worth $96,267,000 after purchasing an additional 111,681 shares during the last quarter.
RLJ Lodging Trust Company Profile
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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