RLJ Lodging Trust (NYSE:RLJ) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of RLJ Lodging Trust (NYSE:RLJ) from a hold rating to a sell rating in a research note released on Tuesday morning.

RLJ has been the topic of a number of other reports. Truist Financial cut their target price on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Oppenheimer increased their price target on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company increased their price target on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the company an “underweight” rating in a research note on Monday, December 9th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.50.

RLJ Lodging Trust Stock Down 0.9 %

Shares of NYSE:RLJ opened at $10.21 on Tuesday. The firm’s 50-day moving average is $9.89 and its two-hundred day moving average is $9.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. RLJ Lodging Trust has a 1 year low of $8.74 and a 1 year high of $12.39. The firm has a market capitalization of $1.57 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.72.

RLJ Lodging Trust (NYSE:RLJ) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The firm had revenue of $345.74 million for the quarter, compared to analysts’ expectations of $342.93 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts predict that RLJ Lodging Trust will post 1.34 EPS for the current year.

RLJ Lodging Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.88%. The ex-dividend date is Tuesday, December 31st. RLJ Lodging Trust’s payout ratio is currently 206.90%.

Institutional Investors Weigh In On RLJ Lodging Trust

Several large investors have recently modified their holdings of RLJ. State Street Corp lifted its holdings in shares of RLJ Lodging Trust by 4.8% during the third quarter. State Street Corp now owns 7,397,290 shares of the real estate investment trust’s stock worth $68,999,000 after purchasing an additional 340,271 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of RLJ Lodging Trust by 4.9% during the third quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust’s stock worth $47,429,000 after purchasing an additional 240,254 shares during the period. Donald Smith & CO. Inc. lifted its holdings in shares of RLJ Lodging Trust by 46.6% during the third quarter. Donald Smith & CO. Inc. now owns 4,855,122 shares of the real estate investment trust’s stock worth $44,570,000 after purchasing an additional 1,543,848 shares during the period. Geode Capital Management LLC lifted its holdings in shares of RLJ Lodging Trust by 1.1% during the third quarter. Geode Capital Management LLC now owns 3,930,177 shares of the real estate investment trust’s stock worth $36,085,000 after purchasing an additional 44,121 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of RLJ Lodging Trust by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust’s stock worth $32,977,000 after purchasing an additional 170,484 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.

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.