Truist Financial Lowers RLJ Lodging Trust (NYSE:RLJ) Price Target to $11.00

RLJ Lodging Trust (NYSE:RLJ) had its price objective cut by research analysts at Truist Financial from $14.00 to $11.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price would suggest a potential upside of 21.35% from the stock’s previous close.

Other research analysts also recently issued reports about the company. StockNews.com upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Friday, October 11th. Wolfe Research downgraded RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Compass Point downgraded RLJ Lodging Trust from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $10.00 in a research note on Monday, August 5th. Bank of America reduced their price target on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a research note on Monday, July 22nd. Finally, Wells Fargo & Company downgraded RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $11.00 to $9.00 in a research report on Friday, September 13th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $11.71.

RLJ Lodging Trust Stock Down 0.1 %

Shares of RLJ Lodging Trust stock opened at $9.07 on Monday. The business’s 50 day simple moving average is $9.28 and its 200 day simple moving average is $9.69. RLJ Lodging Trust has a 52-week low of $8.79 and a 52-week high of $12.39. The firm has a market cap of $1.41 billion, a PE ratio of 34.87, a P/E/G ratio of 0.86 and a beta of 1.69. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.60 and a current ratio of 2.60.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.25). The company had revenue of $369.30 million for the quarter, compared to analyst estimates of $365.67 million. RLJ Lodging Trust had a return on equity of 3.34% and a net margin of 4.93%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. On average, analysts predict that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RLJ Lodging Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its position in shares of RLJ Lodging Trust by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 1,229 shares in 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 worth $57,000 after acquiring an additional 1,564 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of RLJ Lodging Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 27,568 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 1,903 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of RLJ Lodging Trust by 2.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 107,116 shares of the real estate investment trust’s stock worth $1,267,000 after purchasing an additional 2,071 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of RLJ Lodging Trust by 32.3% in the first quarter. Lazard Asset Management LLC now owns 12,491 shares of the real estate investment trust’s stock worth $147,000 after purchasing an additional 3,052 shares during the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

RLJ Lodging Trust Company Profile

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.