RLJ Lodging Trust (NYSE:RLJ) Cut to “Hold” at Truist Financial

RLJ Lodging Trust (NYSE:RLJ) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a report released on Friday, Marketbeat Ratings reports. They presently have a $10.00 target price on the real estate investment trust’s stock, down from their previous target price of $11.00. Truist Financial’s price target points to a potential upside of 12.78% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price target on RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating for the company in a research note on Tuesday, February 18th. StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.63.

RLJ Lodging Trust Trading Down 1.0 %

Shares of NYSE RLJ opened at $8.87 on Friday. The firm has a 50 day moving average price of $9.51 and a two-hundred day moving average price of $9.60. The stock has a market cap of $1.35 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 2.87 and a beta of 1.69. RLJ Lodging Trust has a 52-week low of $8.46 and a 52-week high of $12.13. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.36. The company had revenue of $329.99 million for the quarter, compared to analysts’ expectations of $324.66 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. As a group, equities analysts forecast that RLJ Lodging Trust will post 1.37 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Woodline Partners LP purchased a new stake in RLJ Lodging Trust in the 4th quarter valued at $9,714,000. Donald Smith & CO. Inc. raised its holdings in shares of RLJ Lodging Trust by 18.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 5,756,233 shares of the real estate investment trust’s stock valued at $58,771,000 after purchasing an additional 901,111 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of RLJ Lodging Trust by 58.5% during the fourth quarter. Ameriprise Financial Inc. now owns 2,398,066 shares of the real estate investment trust’s stock valued at $24,486,000 after purchasing an additional 885,071 shares in the last quarter. Invenomic Capital Management LP purchased a new position in RLJ Lodging Trust during the fourth quarter worth about $9,036,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in RLJ Lodging Trust by 294.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 841,753 shares of the real estate investment trust’s stock worth $7,727,000 after purchasing an additional 628,157 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.

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 currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.