RLJ Lodging Trust (NYSE:RLJ) Given New $9.75 Price Target at Wells Fargo & Company

RLJ Lodging Trust (NYSE:RLJ) had its target price reduced by Wells Fargo & Company from $10.50 to $9.75 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 2.04% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Oppenheimer lifted their price target on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Truist Financial cut their target price on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.79.

RLJ Lodging Trust Trading Down 0.1 %

Shares of RLJ stock traded down $0.01 during trading hours on Tuesday, reaching $9.56. The company’s stock had a trading volume of 38,754 shares, compared to its average volume of 1,413,905. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. RLJ Lodging Trust has a one year low of $8.74 and a one year high of $12.39. The stock has a market capitalization of $1.46 billion, a P/E ratio of 32.95 and a beta of 1.68. The firm’s fifty day simple moving average is $9.97 and its 200 day simple moving average is $9.61.

Institutional Investors Weigh In On RLJ Lodging Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in shares of RLJ Lodging Trust by 4.8% in the 3rd quarter. State Street Corp now owns 7,397,290 shares of the real estate investment trust’s stock worth $68,999,000 after purchasing an additional 340,271 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in shares of RLJ Lodging Trust by 18.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 5,756,233 shares of the real estate investment trust’s stock worth $58,771,000 after acquiring an additional 901,111 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of RLJ Lodging Trust by 4.9% during the third quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust’s stock valued at $47,429,000 after acquiring an additional 240,254 shares in the last quarter. Geode Capital Management LLC raised its position in shares of RLJ Lodging Trust by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,930,177 shares of the real estate investment trust’s stock worth $36,085,000 after purchasing an additional 44,121 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in RLJ Lodging Trust by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,690,945 shares of the real estate investment trust’s stock worth $37,685,000 after purchasing an additional 98,673 shares in the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

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 currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.