Canaccord Genuity upgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a hold rating to a buy rating in a research note issued to investors on Friday, September 8th, MarketBeat.com reports. Canaccord Genuity currently has $23.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $21.00.
A number of other analysts also recently weighed in on RLJ. Boenning Scattergood set a $20.00 target price on RLJ Lodging Trust and gave the company a sell rating in a research report on Monday, August 7th. Royal Bank Of Canada reiterated a buy rating and set a $25.00 target price on shares of RLJ Lodging Trust in a research report on Friday, August 4th. Zacks Investment Research raised RLJ Lodging Trust from a sell rating to a hold rating in a report on Thursday, August 17th. ValuEngine cut RLJ Lodging Trust from a buy rating to a hold rating in a report on Friday, September 1st. Finally, BidaskClub cut RLJ Lodging Trust from a sell rating to a strong sell rating in a report on Friday, August 18th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. RLJ Lodging Trust presently has an average rating of Hold and a consensus target price of $24.44.
RLJ Lodging Trust (NYSE:RLJ) traded up 0.33% during midday trading on Friday, hitting $21.60. 2,965,460 shares of the company traded hands. RLJ Lodging Trust has a 12-month low of $18.92 and a 12-month high of $25.10. The company has a market cap of $2.67 billion, a PE ratio of 14.90 and a beta of 1.17. The stock has a 50 day moving average price of $20.38 and a 200-day moving average price of $21.24.
RLJ Lodging Trust (NYSE:RLJ) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $292.28 million during the quarter, compared to the consensus estimate of $293.16 million. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. Analysts expect that RLJ Lodging Trust will post $1.02 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, August 30th were paid a $0.22 dividend. The ex-dividend date was Monday, August 28th. This represents a $0.88 annualized dividend and a dividend yield of 4.07%. RLJ Lodging Trust’s payout ratio is 60.69%.
In related news, Director Forgia Robert M. La purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was bought at an average price of $19.73 per share, with a total value of $98,650.00. Following the completion of the purchase, the director now owns 37,528 shares in the company, valued at approximately $740,427.44. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nathaniel A. Davis sold 10,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total value of $201,100.00. Following the completion of the sale, the director now directly owns 72,928 shares of the company’s stock, valued at approximately $1,466,582.08. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. boosted its position in shares of RLJ Lodging Trust by 385.1% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 4,657 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 3,697 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of RLJ Lodging Trust by 8.0% during the 1st quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock valued at $196,000 after purchasing an additional 615 shares in the last quarter. Paragon Capital Management Ltd bought a new stake in shares of RLJ Lodging Trust during the 2nd quarter valued at about $208,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of RLJ Lodging Trust during the 2nd quarter valued at about $214,000. Finally, Denver Investment Advisors LLC boosted its position in shares of RLJ Lodging Trust by 0.9% during 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 purchasing an additional 100 shares in the last quarter.
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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