Zacks Investment Research Lowers RLJ Lodging Trust (RLJ) to Sell

Zacks Investment Research downgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a hold rating to a sell rating in a report issued on Wednesday.

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 several other reports. ValuEngine downgraded shares of RLJ Lodging Trust from a buy rating to a hold rating in a report on Friday, September 1st. Bank of America began coverage on shares of RLJ Lodging Trust in a report on Monday, August 14th. They set a neutral rating and a $22.00 price target on the stock. Canaccord Genuity upgraded shares of RLJ Lodging Trust from a hold rating to a buy rating and upped their price target for the company from $21.00 to $23.00 in a report on Friday, September 8th. Deutsche Bank initiated coverage on shares of RLJ Lodging Trust in a report on Tuesday, September 19th. They set a hold rating and a $22.00 price target on the stock. Finally, Wells Fargo & Company raised 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 research report on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $24.00.

RLJ Lodging Trust (RLJ) opened at $21.45 on Wednesday. The company has a market cap of $3,802.54, a PE ratio of 8.91, a P/E/G ratio of 1.91 and a beta of 1.13. RLJ Lodging Trust has a fifty-two week low of $19.12 and a fifty-two week high of $25.10. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.90.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. The company had revenue of $341.26 million for the quarter, compared to the consensus estimate of $347.74 million. RLJ Lodging Trust had a net margin of 12.30% and a return on equity of 5.80%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. equities analysts predict that RLJ Lodging Trust will post 2.27 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Denver Investment Advisors LLC boosted its position in RLJ Lodging Trust by 0.9% in the 2nd quarter. Denver Investment Advisors LLC now owns 11,000 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 100 shares during the period. Amalgamated Bank boosted its position in RLJ Lodging Trust by 1.6% in the 2nd quarter. Amalgamated Bank now owns 15,581 shares of the real estate investment trust’s stock valued at $310,000 after buying an additional 248 shares during the period. Utah Retirement Systems boosted its position in RLJ Lodging Trust by 2.6% in the 2nd quarter. Utah Retirement Systems now owns 11,707 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 300 shares during the period. Global Endowment Management LP lifted its position in shares of RLJ Lodging Trust by 0.7% in the 2nd quarter. Global Endowment Management LP now owns 108,910 shares of the real estate investment trust’s stock worth $2,164,000 after purchasing an additional 800 shares during the period. Finally, Thrivent Financial For Lutherans lifted its position in shares of RLJ Lodging Trust by 1.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 48,660 shares of the real estate investment trust’s stock worth $967,000 after purchasing an additional 800 shares during the period. 95.22% of the stock is owned by institutional investors.

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About RLJ Lodging Trust

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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