RLJ Lodging Trust (RLJ) Raised to “Overweight” at KeyCorp

KeyCorp upgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a sector weight rating to an overweight rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. KeyCorp currently has $25.00 price objective on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on RLJ. ValuEngine downgraded shares of RLJ Lodging Trust from a buy rating to a hold rating in a report on Friday, September 1st. Robert W. Baird reaffirmed a hold rating and set a $23.00 price target on shares of RLJ Lodging Trust in a report on Thursday, September 21st. Zacks Investment Research downgraded shares of RLJ Lodging Trust from a hold rating to a sell rating in a research note on Wednesday, December 6th. Wells Fargo & Company upgraded shares of RLJ Lodging Trust from a market perform rating to an outperform rating and set a $23.00 price objective on the stock in a research note on Tuesday, September 5th. Finally, TheStreet downgraded shares of RLJ Lodging Trust from a b- rating to a c+ rating in a research note on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $23.36.

RLJ Lodging Trust (RLJ) traded up $0.05 on Tuesday, reaching $22.43. 1,244,269 shares of the company’s stock were exchanged, compared to its average volume of 1,465,264. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.06 and a quick ratio of 2.06. RLJ Lodging Trust has a twelve month low of $19.12 and a twelve month high of $25.01. The stock has a market cap of $3,914.49, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13.

RLJ Lodging Trust (NYSE:RLJ) last released its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. RLJ Lodging Trust had a net margin of 12.30% and a return on equity of 5.80%. The business had revenue of $341.26 million for the quarter, compared to analyst estimates of $347.74 million. During the same period last year, the company posted $0.69 EPS. The business’s revenue was up 15.2% on a year-over-year basis. sell-side analysts forecast that RLJ Lodging Trust will post 2.27 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.32 annualized dividend and a dividend yield of 5.88%. This is a boost from RLJ Lodging Trust’s previous quarterly dividend of $0.22. RLJ Lodging Trust’s payout ratio is currently 38.94%.

Several institutional investors have recently added to or reduced their stakes in RLJ. Denver Investment Advisors LLC boosted its holdings in shares of RLJ Lodging Trust by 0.9% during the second quarter. Denver Investment Advisors LLC now owns 11,000 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 100 shares during the period. Amalgamated Bank increased its holdings in RLJ Lodging Trust by 1.6% in the 2nd quarter. Amalgamated Bank now owns 15,581 shares of the real estate investment trust’s stock valued at $310,000 after buying an additional 248 shares during the period. Utah Retirement Systems boosted its stake in shares of RLJ Lodging Trust by 2.6% in the 2nd quarter. Utah Retirement Systems now owns 11,707 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 300 shares in the last quarter. Global Endowment Management LP boosted its stake in shares of RLJ Lodging Trust by 0.7% in the 2nd quarter. Global Endowment Management LP now owns 108,910 shares of the real estate investment trust’s stock valued at $2,164,000 after purchasing an additional 800 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in shares of RLJ Lodging Trust by 1.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 48,660 shares of the real estate investment trust’s stock valued at $967,000 after purchasing an additional 800 shares in the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

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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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