RLJ Lodging Trust (NYSE:RLJ) Price Target Raised to $12.00 at Oppenheimer

RLJ Lodging Trust (NYSE:RLJ) had its price target hoisted by investment analysts at Oppenheimer from $11.00 to $12.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Oppenheimer’s price objective would suggest a potential upside of 20.24% from the stock’s previous close.

RLJ has been the subject of a number of other reports. Wells Fargo & Company lowered shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $11.00 to $9.00 in a research report on Friday, September 13th. Truist Financial decreased their target price 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. StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America lowered their target price 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. Finally, Wolfe Research cut shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, RLJ Lodging Trust presently has a consensus rating of “Hold” and a consensus price target of $11.29.

RLJ Lodging Trust Stock Performance

Shares of NYSE:RLJ traded up $0.17 during trading on Tuesday, hitting $9.98. 231,428 shares of the company were exchanged, compared to its average volume of 1,401,356. The company has a market cap of $1.55 billion, a PE ratio of 34.14, a P/E/G ratio of 0.92 and a beta of 1.70. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60. The stock has a 50 day moving average of $9.24 and a 200 day moving average of $9.56.

RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.23). RLJ Lodging Trust had a return on equity of 3.57% and a net margin of 5.19%. The company had revenue of $345.74 million during the quarter, compared to the consensus estimate of $342.93 million. During the same quarter in the prior year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that RLJ Lodging Trust will post 1.34 EPS for the current year.

Hedge Funds Weigh In On RLJ Lodging Trust

Several institutional investors and hedge funds have recently made changes to their positions in RLJ. Quarry LP boosted its stake in shares of RLJ Lodging Trust by 197.3% during the second quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 3,627 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in RLJ Lodging Trust by 34.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 1,564 shares during the period. Ground Swell Capital LLC bought a new stake in RLJ Lodging Trust in the 3rd quarter worth $93,000. Aigen Investment Management LP purchased a new position in shares of RLJ Lodging Trust in the third quarter valued at about $107,000. Finally, BOKF NA bought a new position in shares of RLJ Lodging Trust during the first quarter valued at about $139,000. Institutional investors 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.