Robert W. Baird set a $23.00 price target on RLJ Lodging Trust (NYSE:RLJ) in a research report released on Sunday morning. The firm currently has a hold rating on the real estate investment trust’s stock.
Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a buy rating and issued a $25.00 target price on shares of RLJ Lodging Trust in a research report on Friday, August 4th. Canaccord Genuity raised RLJ Lodging Trust from a hold rating to a buy rating and upped their target price for the company from $21.00 to $23.00 in a research report on Friday, September 8th. ValuEngine raised RLJ Lodging Trust from a hold rating to a buy rating in a research report on Monday, October 2nd. Barclays PLC started coverage on RLJ Lodging Trust in a research report on Friday, October 6th. They issued an equal weight rating and a $24.00 target price on the stock. Finally, Deutsche Bank AG started coverage on RLJ Lodging Trust in a research report on Tuesday, September 19th. They issued a hold rating and a $22.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $24.00.
Shares of RLJ Lodging Trust (RLJ) opened at 21.66 on Friday. The company has a market cap of $2.68 billion, a P/E ratio of 14.94 and a beta of 1.17. RLJ Lodging Trust has a 12 month low of $18.92 and a 12 month high of $25.10. The firm has a 50 day moving average price of $21.90 and a 200-day moving average price of $21.02.
RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. The company had revenue of $292.28 million for the quarter, compared to the consensus estimate of $293.16 million. During the same quarter in the prior year, the business earned $0.82 earnings per share. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. Analysts anticipate that RLJ Lodging Trust will post $0.99 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Thursday, September 28th. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 30.34%.
In related news, Director Forgia Robert M. La purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average cost of $19.73 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nathaniel A. Davis sold 10,000 shares of the business’s stock in a transaction that occurred on 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 owns 72,928 shares of the company’s stock, valued at $1,466,582.08. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Several hedge funds have recently modified their holdings of RLJ. SG Americas Securities LLC boosted 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 period. Principal Financial Group Inc. lifted its stake in RLJ Lodging Trust by 29.5% during the first quarter. Principal Financial Group Inc. now owns 21,644 shares of the real estate investment trust’s stock worth $509,000 after purchasing an additional 4,935 shares during the last quarter. Wellington Management Group LLP lifted its stake in RLJ Lodging Trust by 119.1% during the first quarter. Wellington Management Group LLP now owns 157,931 shares of the real estate investment trust’s stock worth $3,713,000 after purchasing an additional 85,837 shares during the last quarter. Teachers Advisors LLC lifted its stake in RLJ Lodging Trust by 3.1% during the first quarter. Teachers Advisors LLC now owns 1,002,758 shares of the real estate investment trust’s stock worth $23,575,000 after purchasing an additional 30,140 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in RLJ Lodging Trust by 18.4% during the first quarter. TIAA CREF Investment Management LLC now owns 460,824 shares of the real estate investment trust’s stock worth $10,834,000 after purchasing an additional 71,475 shares during the last quarter.
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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