RLJ Lodging Trust (NYSE:RLJ) Stock Price Expected to Rise, Oppenheimer Analyst Says

RLJ Lodging Trust (NYSE:RLJ) had its target price increased by stock analysts at Oppenheimer from $11.00 to $12.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Oppenheimer’s price objective points to a potential upside of 19.94% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company downgraded shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $11.00 to $9.00 in a report on Friday, September 13th. Bank of America reduced their price target on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, July 22nd. Truist Financial lowered their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Compass Point lowered shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $10.00 in a research report on Monday, August 5th. Finally, StockNews.com cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.29.

RLJ Lodging Trust Price Performance

RLJ opened at $10.01 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. RLJ Lodging Trust has a 1 year low of $8.74 and a 1 year high of $12.39. The stock has a fifty day moving average price of $9.26 and a 200 day moving average price of $9.56. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 0.94 and a beta of 1.70.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.23). The firm had revenue of $345.74 million for the quarter, compared to analyst estimates of $342.93 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Analysts forecast that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On RLJ Lodging Trust

Several institutional investors and hedge funds have recently modified their holdings of RLJ. Allspring Global Investments Holdings LLC grew its position in RLJ Lodging Trust by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 1,229 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of RLJ Lodging Trust by 34.9% during the third 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 during the period. Asset Management One Co. Ltd. lifted its holdings in shares of RLJ Lodging Trust by 0.8% during the third quarter. Asset Management One Co. Ltd. now owns 225,738 shares of the real estate investment trust’s stock worth $2,072,000 after buying an additional 1,755 shares in the last quarter. ProShare Advisors LLC boosted its holdings in RLJ Lodging Trust by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 27,568 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,903 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of RLJ Lodging Trust by 2.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 107,116 shares of the real estate investment trust’s stock valued at $1,267,000 after buying an additional 2,071 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.

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 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.