RLJ Lodging Trust (RLJ) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of RLJ Lodging Trust (NYSE:RLJ) from a sell rating to a hold rating in a report issued on Friday.

According to Zacks, “RLJ Lodging Trust is a REIT focused on investing primarily in premium-branded, focused-service, and compact full-service hotels. It plans to own hotels concentrated in urban and dense suburban markets. “

RLJ has been the topic of several other research reports. Wells Fargo & Co reaffirmed a hold rating on shares of RLJ Lodging Trust in a research note on Wednesday, November 14th. Deutsche Bank set a $22.00 price target on RLJ Lodging Trust and gave the stock a hold rating in a report on Thursday, November 8th. Bank of America reduced their price target on RLJ Lodging Trust from $25.00 to $24.00 and set a neutral rating on the stock in a report on Thursday, October 4th. KeyCorp set a $23.00 price target on RLJ Lodging Trust and gave the stock a buy rating in a report on Thursday, December 20th. Finally, TheStreet lowered RLJ Lodging Trust from a b- rating to a c+ rating in a report on Thursday, January 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. RLJ Lodging Trust presently has an average rating of Hold and a consensus target price of $22.50.

RLJ Lodging Trust stock traded up $0.14 during trading on Friday, reaching $18.07. The company had a trading volume of 1,381,712 shares, compared to its average volume of 1,766,677. RLJ Lodging Trust has a 1-year low of $15.91 and a 1-year high of $23.97. The stock has a market capitalization of $3.10 billion, a P/E ratio of 7.53, a P/E/G ratio of 1.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.76 and a current ratio of 2.76.

RLJ Lodging Trust (NYSE:RLJ) last announced its earnings results on Tuesday, November 6th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.17). RLJ Lodging Trust had a return on equity of 5.34% and a net margin of 9.23%. The business had revenue of $447.00 million for the quarter, compared to analyst estimates of $450.68 million. During the same period last year, the firm earned $0.61 EPS. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. Sell-side analysts predict that RLJ Lodging Trust will post 2.2 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, December 28th. This represents a $1.32 annualized dividend and a dividend yield of 7.30%. RLJ Lodging Trust’s dividend payout ratio is presently 55.00%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Paradigm Asset Management Co. LLC purchased a new stake in RLJ Lodging Trust in the 3rd quarter valued at about $106,000. NN Investment Partners Holdings N.V. purchased a new stake in RLJ Lodging Trust in the 3rd quarter valued at about $198,000. Panagora Asset Management Inc. raised its holdings in RLJ Lodging Trust by 56.8% in the 3rd quarter. Panagora Asset Management Inc. now owns 9,472 shares of the real estate investment trust’s stock valued at $209,000 after buying an additional 3,431 shares during the period. Truvestments Capital LLC purchased a new stake in RLJ Lodging Trust in the 2nd quarter valued at about $235,000. Finally, Tower Research Capital LLC TRC raised its holdings in RLJ Lodging Trust by 115.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,056 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 6,456 shares during the period.

About RLJ Lodging Trust

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 consists of 150 hotels with approximately 28,600 rooms located in 25 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.

Read More: Price to Earnings Ratio (PE) Basics

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