RLJ Lodging Trust (RLJ) Coverage Initiated at Barclays PLC

Analysts at Barclays PLC started coverage on shares of RLJ Lodging Trust (NYSE:RLJ) in a research note issued on Friday. The brokerage set an “equal weight” rating and a $24.00 price target on the real estate investment trust’s stock. Barclays PLC’s price objective would suggest a potential upside of 9.29% from the company’s current price.

RLJ has been the topic of a number of other research reports. ValuEngine cut shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Bank of America Corporation began coverage on shares of RLJ Lodging Trust in a research report on Monday, August 14th. They issued a “neutral” rating and a $22.00 target price on the stock. Canaccord Genuity upgraded shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and lifted their target price for the stock from $21.00 to $23.00 in a research report on Friday, September 8th. Finally, Deutsche Bank AG began coverage on shares of RLJ Lodging Trust in a research report on Tuesday, September 19th. They issued a “hold” rating and a $22.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $24.18.

Shares of RLJ Lodging Trust (NYSE RLJ) opened at 21.96 on Friday. RLJ Lodging Trust has a 12-month low of $18.92 and a 12-month high of $25.10. The firm has a market capitalization of $2.72 billion, a P/E ratio of 15.14 and a beta of 1.17. The company has a 50-day moving average price of $21.06 and a 200-day moving average price of $21.16.

RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $292.28 million for the quarter, compared to analysts’ expectations of $293.16 million. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.16%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. Equities analysts predict that RLJ Lodging Trust will post $1.19 EPS for the current year.

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In other RLJ Lodging Trust news, Director Nathaniel A. Davis sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total value of $201,100.00. Following the transaction, the director now owns 72,928 shares in the company, valued at $1,466,582.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Forgia Robert M. La acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was purchased at an average price of $19.73 per share, for a total transaction of $98,650.00. Following the transaction, the director now directly owns 37,528 shares of the company’s stock, valued at approximately $740,427.44. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. increased its position in shares of RLJ Lodging Trust by 23.0% during the first quarter. UBS Asset Management Americas Inc. now owns 265,152 shares of the real estate investment trust’s stock valued at $6,234,000 after buying an additional 49,507 shares during the period. Teachers Advisors LLC increased its position in shares of RLJ Lodging Trust by 3.1% during the first quarter. Teachers Advisors LLC now owns 1,002,758 shares of the real estate investment trust’s stock valued at $23,575,000 after buying an additional 30,140 shares during the period. Ameriprise Financial Inc. increased its position in shares of RLJ Lodging Trust by 30.1% during the first quarter. Ameriprise Financial Inc. now owns 395,035 shares of the real estate investment trust’s stock valued at $9,288,000 after buying an additional 91,303 shares during the period. Aperio Group LLC increased its position in shares of RLJ Lodging Trust by 5.8% during the second quarter. Aperio Group LLC now owns 18,319 shares of the real estate investment trust’s stock valued at $364,000 after buying an additional 1,009 shares during the period. Finally, Citigroup Inc. increased its position in shares of RLJ Lodging Trust by 14.6% during the second quarter. Citigroup Inc. now owns 290,875 shares of the real estate investment trust’s stock valued at $5,780,000 after buying an additional 36,958 shares during the period.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.

Analyst Recommendations for RLJ Lodging Trust (NYSE:RLJ)

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