Canaccord Genuity Reaffirms Hold Rating for RLJ Lodging Trust (RLJ)

Canaccord Genuity reaffirmed their hold rating on shares of RLJ Lodging Trust (NYSE:RLJ) in a research note issued to investors on Monday, August 7th. They currently have a $21.00 price target on the real estate investment trust’s stock.

Several other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of RLJ Lodging Trust from a hold rating to a sell rating in a report on Wednesday, July 12th. BidaskClub cut shares of RLJ Lodging Trust from a hold rating to a sell rating in a report on Wednesday, July 5th. Boenning Scattergood reissued an underperform rating and set a $21.00 price objective on shares of RLJ Lodging Trust in a report on Tuesday, April 18th. ValuEngine raised shares of RLJ Lodging Trust from a buy rating to a strong-buy rating in a report on Saturday, May 20th. Finally, Janney Montgomery Scott reissued a buy rating and set a $28.00 price objective (up previously from $26.00) on shares of RLJ Lodging Trust in a report on Monday, June 5th. Three analysts have rated the stock with a sell rating, four 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 target price of $24.38.

Shares of RLJ Lodging Trust (RLJ) traded down 0.46% on Monday, reaching $19.61. 4,633,068 shares of the company traded hands. RLJ Lodging Trust has a 1-year low of $18.92 and a 1-year high of $25.10. The stock has a 50-day moving average price of $20.29 and a 200 day moving average price of $21.63. The firm has a market capitalization of $2.43 billion, a P/E ratio of 13.52 and a beta of 1.16.

RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm had revenue of $292.28 million for the quarter, compared to analysts’ expectations of $293.16 million. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.16%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share. Analysts anticipate that RLJ Lodging Trust will post $0.98 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, August 28th. This represents a $0.88 annualized dividend and a dividend yield of 4.49%. RLJ Lodging Trust’s payout ratio is currently 91.03%.

In related news, Director Forgia Robert M. La bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average cost of $19.73 per share, for a total transaction of $98,650.00. Following the transaction, the director now owns 37,528 shares of the company’s stock, valued at $740,427.44. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of RLJ. Bronfman E.L. Rothschild L.P. raised its stake in shares of RLJ Lodging Trust by 385.1% in the first 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 buying an additional 3,697 shares during the last quarter. James Investment Research Inc. bought a new stake in shares of RLJ Lodging Trust during the first quarter valued at approximately $144,000. SG Americas Securities LLC raised its stake in shares of RLJ Lodging Trust by 8.0% in the first quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 615 shares during the last quarter. Paragon Capital Management Ltd bought a new stake in shares of RLJ Lodging Trust during the second quarter valued at approximately $208,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in RLJ Lodging Trust during the second quarter valued at about $214,000. Institutional investors own 99.88% of the company’s stock.

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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