RLJ Lodging Trust (RLJ) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a sell rating to a hold rating in a research report released on Friday.
According to Zacks, “RLJ Lodging Trust is a REIT focused on investing primarily in premium-branded, focused-service, and compact full-service hotels. It plans to own hotels concentrated in urban and dense suburban markets. “
RLJ has been the topic of a number of other reports. KeyCorp set a $23.00 price target on shares of RLJ Lodging Trust and gave the stock a buy rating in a report on Thursday, December 20th. Robert W. Baird reissued a buy rating and issued a $24.00 price target on shares of RLJ Lodging Trust in a report on Friday, November 30th. TheStreet downgraded shares of RLJ Lodging Trust from a b- rating to a c+ rating in a report on Thursday, January 3rd. Bank of America cut their price target on shares of RLJ Lodging Trust from $25.00 to $24.00 and set a neutral rating on the stock in a report on Thursday, October 4th. Finally, Deutsche Bank set a $22.00 price target on shares of RLJ Lodging Trust and gave the stock a hold rating in a report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $22.50.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings data on Tuesday, November 6th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.17). The company had revenue of $447.00 million during the quarter, compared to the consensus estimate of $450.68 million. RLJ Lodging Trust had a net margin of 9.23% and a return on equity of 5.34%. The business’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS. Analysts forecast that RLJ Lodging Trust will post 2.2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 7.30%. The ex-dividend date of this dividend is Friday, December 28th. RLJ Lodging Trust’s dividend payout ratio (DPR) is presently 55.00%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia bought a new position in shares of RLJ Lodging Trust in the third quarter worth approximately $319,000. Northern Trust Corp increased its position in shares of RLJ Lodging Trust by 1.4% in the second quarter. Northern Trust Corp now owns 3,113,003 shares of the real estate investment trust’s stock worth $68,642,000 after purchasing an additional 43,412 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of RLJ Lodging Trust by 15.1% in the third quarter. Thrivent Financial for Lutherans now owns 38,084 shares of the real estate investment trust’s stock worth $839,000 after purchasing an additional 5,000 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of RLJ Lodging Trust in the second quarter worth approximately $235,000. Finally, Veritable L.P. bought a new position in shares of RLJ Lodging Trust in the third quarter worth approximately $271,000.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio consists of 150 hotels with approximately 28,600 rooms located in 25 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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