RLJ Lodging Trust (NYSE:RLJ) Price Target Raised to $13.00

RLJ Lodging Trust (NYSE:RLJ) had its price objective boosted by LADENBURG THALM/SH SH from $12.00 to $13.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently weighed in on RLJ. Raymond James Financial cut shares of RLJ Lodging Trust from a “strong-buy” rating to an “outperform” rating and upped their price objective for the stock from $9.00 to $11.00 in a report on Thursday, May 28th. Wells Fargo & Company boosted their price target on RLJ Lodging Trust from $9.00 to $11.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Truist Financial upped their price target on RLJ Lodging Trust from $7.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, June 12th. Weiss Ratings raised RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Finally, Wall Street Zen upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, RLJ Lodging Trust has an average rating of “Reduce” and an average price target of $10.94.

RLJ Lodging Trust Stock Up 0.6%

RLJ stock opened at $10.90 on Monday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 7.63 and a beta of 1.09. The business’s 50 day moving average price is $11.57 and its two-hundred day moving average price is $9.39. RLJ Lodging Trust has a fifty-two week low of $6.54 and a fifty-two week high of $12.89. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89.

RLJ Lodging Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.15 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 5.5%.

Institutional Investors Weigh In On RLJ Lodging Trust

A number of large investors have recently added to or reduced their stakes in the stock. Amundi lifted its holdings in shares of RLJ Lodging Trust by 12.3% during the 1st quarter. Amundi now owns 90,874 shares of the real estate investment trust’s stock valued at $717,000 after buying an additional 9,983 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of RLJ Lodging Trust by 11.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 993,552 shares of the real estate investment trust’s stock worth $7,839,000 after buying an additional 103,065 shares during the last quarter. Norges Bank bought a new stake in shares of RLJ Lodging Trust in the second quarter worth $1,248,000. Invesco Ltd. grew its holdings in shares of RLJ Lodging Trust by 47.5% in the second quarter. Invesco Ltd. now owns 1,634,179 shares of the real estate investment trust’s stock worth $11,897,000 after acquiring an additional 526,172 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in RLJ Lodging Trust by 2,721.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 3,347 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.