RLJ Lodging Trust (NYSE:RLJ) Receives $10.92 Average PT from Analysts

Shares of RLJ Lodging Trust (NYSE:RLJ) have been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.79.

A number of equities analysts have recently issued reports on the company. Truist Financial reduced their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. StockNews.com raised RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Wells Fargo & Company reduced their price target on RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating on the stock in a research report on Tuesday. Finally, Oppenheimer upped their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th.

Hedge Funds Weigh In On RLJ Lodging Trust

Hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in RLJ Lodging Trust in the fourth quarter valued at $29,000. US Bancorp DE boosted its holdings in RLJ Lodging Trust by 78.2% in the fourth quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,417 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in RLJ Lodging Trust by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 1,564 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in RLJ Lodging Trust in the third quarter valued at $93,000. Finally, Aigen Investment Management LP purchased a new stake in RLJ Lodging Trust in the third quarter valued at $107,000. 92.35% of the stock is owned by institutional investors and hedge funds.

RLJ Lodging Trust Stock Performance

Shares of RLJ stock opened at $9.62 on Thursday. The business’s fifty day simple moving average is $9.93 and its 200-day simple moving average is $9.61. The company has a market cap of $1.47 billion, a PE ratio of 33.16 and a beta of 1.68. 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 12-month low of $8.74 and a 12-month high of $12.39.

RLJ Lodging Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.24%. The ex-dividend date of this dividend was Tuesday, December 31st. RLJ Lodging Trust’s payout ratio is 206.90%.

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.