KeyCorp Cuts RLJ Lodging Trust (NYSE:RLJ) Price Target to $12.00

RLJ Lodging Trust (NYSE:RLJ) had its target price lowered by equities researchers at KeyCorp from $14.00 to $12.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s target price points to a potential upside of 43.20% from the company’s current price.

RLJ has been the subject of a number of other research reports. StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and dropped their price target for the company from $11.00 to $10.00 in a research note on Friday, March 21st. Finally, Wells Fargo & Company reduced their price objective on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating on the stock in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, RLJ Lodging Trust currently has an average rating of “Hold” and a consensus target price of $10.82.

RLJ Lodging Trust Stock Down 1.2 %

Shares of NYSE:RLJ opened at $8.38 on Monday. RLJ Lodging Trust has a 52-week low of $8.26 and a 52-week high of $11.99. The company has a market capitalization of $1.27 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 2.87 and a beta of 1.69. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74. The company has a fifty day moving average of $9.43 and a 200-day moving average of $9.59.

RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.36. The business had revenue of $329.99 million during the quarter, compared to analysts’ expectations of $324.66 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. On average, equities analysts predict that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On RLJ Lodging Trust

Several hedge funds and other institutional investors have recently bought and sold shares of RLJ. State Street Corp grew its holdings in RLJ Lodging Trust by 4.8% during 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 acquiring an additional 340,271 shares during the period. Donald Smith & CO. Inc. grew its stake in RLJ Lodging Trust by 18.6% during 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 purchasing an additional 901,111 shares during the period. JPMorgan Chase & Co. increased its holdings in RLJ Lodging Trust by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 5,166,593 shares of the real estate investment trust’s stock worth $47,429,000 after purchasing an additional 240,254 shares in the last quarter. Geode Capital Management LLC increased its holdings in RLJ Lodging Trust by 1.1% in the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in RLJ Lodging Trust by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,690,945 shares of the real estate investment trust’s stock valued at $37,685,000 after buying an additional 98,673 shares during the period. Institutional investors and hedge funds 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.