RLJ Lodging Trust (NYSE:RLJ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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. “
Other equities research analysts also recently issued research reports about the company. ValuEngine raised RLJ Lodging Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. SunTrust Banks reaffirmed a “hold” rating on shares of RLJ Lodging Trust in a research report on Friday, March 2nd. Robert W. Baird set a $22.00 price objective on RLJ Lodging Trust and gave the company a “hold” rating in a research report on Thursday, March 1st. Deutsche Bank raised their price objective on RLJ Lodging Trust from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, KeyCorp raised RLJ Lodging Trust from a “sector weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research report on Tuesday, December 19th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. RLJ Lodging Trust has a consensus rating of “Hold” and an average price target of $23.27.
RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. RLJ Lodging Trust had a return on equity of 2.77% and a net margin of 5.52%. The company had revenue of $462.49 million for the quarter, compared to the consensus estimate of $442.14 million. equities analysts expect that RLJ Lodging Trust will post 2.38 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Allianz Asset Management GmbH boosted its holdings in RLJ Lodging Trust by 111.2% in the third quarter. Allianz Asset Management GmbH now owns 628,717 shares of the real estate investment trust’s stock worth $13,833,000 after acquiring an additional 330,962 shares in the last quarter. American International Group Inc. boosted its holdings in RLJ Lodging Trust by 49.1% in the third quarter. American International Group Inc. now owns 113,796 shares of the real estate investment trust’s stock worth $2,504,000 after acquiring an additional 37,459 shares in the last quarter. Sei Investments Co. boosted its holdings in RLJ Lodging Trust by 14.9% in the fourth quarter. Sei Investments Co. now owns 656,452 shares of the real estate investment trust’s stock worth $14,423,000 after acquiring an additional 85,114 shares in the last quarter. Land & Buildings Investment Management LLC acquired a new stake in RLJ Lodging Trust in the third quarter worth about $77,072,000. Finally, Burren Capital Advisors Ltd acquired a new stake in RLJ Lodging Trust in the third quarter worth about $1,637,000.
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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.
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