RLJ Lodging Trust (NYSE:RLJ) Downgraded by StockNews.com to Sell

RLJ Lodging Trust (NYSE:RLJ) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other analysts have also commented on the stock. Oppenheimer lifted their price objective on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their price target on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an “underweight” rating in a report on Monday, December 9th. Finally, Truist Financial dropped their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, RLJ Lodging Trust currently has a consensus rating of “Hold” and an average price target of $10.92.

RLJ Lodging Trust Stock Down 1.4 %

RLJ traded down $0.15 during mid-day trading on Wednesday, reaching $9.87. 2,050,331 shares of the stock were exchanged, compared to its average volume of 1,669,924. RLJ Lodging Trust has a 1 year low of $8.74 and a 1 year high of $12.39. 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 stock has a market capitalization of $1.51 billion, a PE ratio of 34.02 and a beta of 1.70. The company has a 50 day moving average price of $10.12 and a two-hundred day moving average price of $9.60.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The firm had revenue of $345.74 million during the quarter, compared to the consensus estimate of $342.93 million. During the same period in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts anticipate that RLJ Lodging Trust will post 1.37 EPS for the current year.

Hedge Funds Weigh In On RLJ Lodging Trust

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its stake in RLJ Lodging Trust by 197.3% in the second quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 3,627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of RLJ Lodging Trust by 34.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 1,564 shares in the last quarter. Ground Swell Capital LLC bought a new position in shares of RLJ Lodging Trust during the 3rd quarter valued at about $93,000. Aigen Investment Management LP bought a new position in shares of RLJ Lodging Trust during the 3rd quarter valued at about $107,000. Finally, Metis Global Partners LLC lifted its holdings in shares of RLJ Lodging Trust by 31.0% in the 3rd quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 3,738 shares during the last quarter. 92.35% of the stock is currently 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.