RLJ Lodging Trust (NYSE:RLJ) Reaches New 12-Month Low at $8.84

RLJ Lodging Trust (NYSE:RLJ)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.84 and last traded at $8.95, with a volume of 31511 shares. The stock had previously closed at $9.25.

Wall Street Analysts Forecast Growth

RLJ has been the topic of a number of research analyst reports. Bank of America dropped their price target on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating on the stock in a research note on Monday, July 22nd. Robert W. Baird cut their price target on RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 11th. Finally, StockNews.com downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.07.

RLJ Lodging Trust Stock Performance

The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 0.84 and a beta of 1.70. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.81 and a quick ratio of 2.81. The firm’s fifty day moving average is $9.65 and its 200 day moving average is $10.83.

RLJ Lodging Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.10 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.33%. RLJ Lodging Trust’s dividend payout ratio is currently 142.86%.

Institutional Trading of RLJ Lodging Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hazelview Securities Inc. bought a new position in RLJ Lodging Trust during the first quarter worth $82,000. Metis Global Partners LLC acquired a new stake in RLJ Lodging Trust during the 4th quarter worth about $122,000. Stevens Capital Management LP bought a new position in RLJ Lodging Trust during the fourth quarter worth $128,000. BOKF NA bought a new stake in shares of RLJ Lodging Trust during the first quarter valued at approximately $139,000. Finally, Allspring Global Investments Holdings LLC lifted its position in RLJ Lodging Trust by 11.5% in 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 acquiring an additional 1,229 shares in the last quarter. 92.35% of the stock is owned by institutional investors.

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.