RLJ Lodging Trust (NYSE:RLJ) Sets New 52-Week Low – What’s Next?

RLJ Lodging Trust (NYSE:RLJ)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $7.20 and last traded at $7.23, with a volume of 636066 shares changing hands. The stock had previously closed at $7.96.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company reduced their price target on RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating for the company in a research report on Tuesday, February 18th. KeyCorp dropped their price objective on RLJ Lodging Trust from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Truist Financial downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and lowered their target price for the stock from $11.00 to $10.00 in a report on Friday, March 21st. Finally, StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, RLJ Lodging Trust presently has an average rating of “Hold” and a consensus price target of $10.82.

RLJ Lodging Trust Stock Down 4.0 %

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 firm has a fifty day simple moving average of $9.09 and a 200-day simple moving average of $9.51. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.87 and a beta of 1.69.

RLJ Lodging Trust (NYSE:RLJ) last posted 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. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The company had revenue of $329.99 million during the quarter, compared to analysts’ expectations of $324.66 million. As a group, sell-side analysts expect that RLJ Lodging Trust will post 1.37 EPS for the current year.

RLJ Lodging Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.79%. The ex-dividend date is Monday, March 31st. RLJ Lodging Trust’s payout ratio is 222.22%.

Insider Transactions at RLJ Lodging Trust

In other RLJ Lodging Trust news, Director Patricia L. Gibson purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were acquired at an average cost of $8.03 per share, for a total transaction of $80,300.00. Following the completion of the purchase, the director now owns 124,217 shares of the company’s stock, valued at approximately $997,462.51. The trade was a 8.76 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of RLJ Lodging Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Woodline Partners LP bought a new position in shares of RLJ Lodging Trust during the fourth quarter worth approximately $9,714,000. Donald Smith & CO. Inc. grew its position 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 buying an additional 901,111 shares in the last quarter. Ameriprise Financial Inc. increased its stake in RLJ Lodging Trust by 58.5% during the 4th quarter. Ameriprise Financial Inc. now owns 2,398,066 shares of the real estate investment trust’s stock worth $24,486,000 after acquiring an additional 885,071 shares during the period. Invenomic Capital Management LP acquired a new position in RLJ Lodging Trust in the 4th quarter valued at $9,036,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of RLJ Lodging Trust by 294.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 841,753 shares of the real estate investment trust’s stock valued at $7,727,000 after acquiring an additional 628,157 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.