RLJ Lodging Trust (RLJ) Receives $24.00 Consensus Target Price from Brokerages

RLJ Lodging Trust (NYSE:RLJ) has been given an average recommendation of “Hold” by the sixteen ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.00.

Several research analysts have recently issued reports on RLJ shares. Deutsche Bank started coverage on shares of RLJ Lodging Trust in a report on Tuesday, September 19th. They issued a “hold” rating and a $22.00 price objective for the company. SunTrust Banks started coverage on shares of RLJ Lodging Trust in a report on Thursday, October 19th. They issued a “hold” rating and a $22.00 price objective for the company. Canaccord Genuity upgraded shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $21.00 to $23.00 in a report on Friday, September 8th. Barclays started coverage on shares of RLJ Lodging Trust in a report on Friday, October 6th. They issued an “equal weight” rating and a $24.00 price objective for the company. Finally, Wells Fargo & Company upgraded shares of RLJ Lodging Trust from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a report on Tuesday, September 5th.

In related news, Director Nathaniel A. Davis sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 directly 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 at this link. Company insiders own 2.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. Ffcm LLC boosted its holdings in RLJ Lodging Trust by 1,105.3% during the third quarter. Ffcm LLC now owns 5,496 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 5,040 shares in the last quarter. Paragon Capital Management Ltd bought a new stake in RLJ Lodging Trust during the second quarter worth approximately $208,000. Ameritas Investment Partners Inc. boosted its holdings in RLJ Lodging Trust by 38.0% during the third quarter. Ameritas Investment Partners Inc. now owns 14,536 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 4,002 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in RLJ Lodging Trust during the second quarter worth approximately $214,000. Finally, Denver Investment Advisors LLC boosted its holdings in RLJ Lodging Trust by 0.9% during the second quarter. Denver Investment Advisors LLC now owns 11,000 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

RLJ Lodging Trust (NYSE RLJ) traded up $0.29 during trading on Friday, hitting $21.35. 1,548,500 shares of the stock traded hands, compared to its average volume of 1,541,891. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $3,740.00, a PE ratio of 8.75, a PEG ratio of 1.85 and a beta of 1.14. RLJ Lodging Trust has a twelve month low of $19.12 and a twelve month high of $25.10.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. The business had revenue of $341.26 million during the quarter, compared to analysts’ expectations of $347.74 million. RLJ Lodging Trust had a net margin of 12.30% and a return on equity of 5.80%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm posted $0.69 earnings per share. equities research analysts forecast that RLJ Lodging Trust will post 2.31 earnings per share for the current year.

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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.

Analyst Recommendations for RLJ Lodging Trust (NYSE:RLJ)

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