RLJ Lodging Trust (NYSE:RLJ) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The firm currently has a $21.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.05% from the stock’s previous close.
According to Zacks, “RLJ Lodging Trust is a REIT focused on investing primarily in premium-branded, focused-service, and compact full-service hotels. It plans to own hotels concentrated in urban and dense suburban markets. “
Other research analysts have also issued reports about the company. Wells Fargo & Co upgraded RLJ Lodging Trust from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $20.00 in a research report on Wednesday. Barclays set a $22.00 price target on RLJ Lodging Trust and gave the stock a “buy” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $22.29.
Shares of RLJ opened at $18.91 on Thursday. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 1.69 and a beta of 1.38. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.09 and a current ratio of 2.09. RLJ Lodging Trust has a 52 week low of $15.91 and a 52 week high of $23.97.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.30). RLJ Lodging Trust had a net margin of 11.10% and a return on equity of 6.19%. The firm had revenue of $399.27 million during the quarter, compared to the consensus estimate of $402.53 million. Analysts forecast that RLJ Lodging Trust will post 2.18 EPS for the current year.
Several large investors have recently bought and sold shares of RLJ. Congress Asset Management Co. MA raised its stake in RLJ Lodging Trust by 1.8% during the 4th quarter. Congress Asset Management Co. MA now owns 37,988 shares of the real estate investment trust’s stock worth $623,000 after buying an additional 665 shares during the period. Utah Retirement Systems raised its stake in RLJ Lodging Trust by 5.8% during the 4th quarter. Utah Retirement Systems now owns 18,207 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 1,000 shares during the period. State of Alaska Department of Revenue raised its stake in RLJ Lodging Trust by 1.8% during the 4th quarter. State of Alaska Department of Revenue now owns 56,715 shares of the real estate investment trust’s stock worth $929,000 after buying an additional 1,022 shares during the period. Great West Life Assurance Co. Can raised its stake in RLJ Lodging Trust by 0.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 137,976 shares of the real estate investment trust’s stock worth $2,423,000 after buying an additional 1,058 shares during the period. Finally, ClariVest Asset Management LLC raised its stake in RLJ Lodging Trust by 3.2% during the 1st quarter. ClariVest Asset Management LLC now owns 38,500 shares of the real estate investment trust’s stock worth $677,000 after buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 95.29% 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 consists of 150 hotels with approximately 28,600 rooms, located in 25 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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