RLJ Lodging Trust (NYSE:RLJ) Given New $12.00 Price Target at KeyCorp

RLJ Lodging Trust (NYSE:RLJ) had its price target cut by KeyCorp from $14.00 to $12.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s target price would indicate a potential upside of 42.55% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Wells Fargo & Company cut their price objective on RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating for the company in a report on Tuesday, February 18th. Finally, Truist Financial cut RLJ Lodging Trust from a “buy” rating to a “hold” rating and decreased their price objective for the company from $11.00 to $10.00 in a report on Friday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, RLJ Lodging Trust has a consensus rating of “Hold” and a consensus price target of $10.82.

RLJ Lodging Trust Trading Down 5.2 %

Shares of RLJ stock opened at $8.42 on Monday. The company has a market capitalization of $1.28 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.87 and a beta of 1.69. RLJ Lodging Trust has a 52-week low of $8.26 and a 52-week high of $11.99. The business’s fifty day moving average is $9.48 and its 200 day moving average is $9.60. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.36. The firm had revenue of $329.99 million for the quarter, compared to analysts’ expectations of $324.66 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. On average, equities research analysts anticipate that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On RLJ Lodging Trust

Large investors have recently bought and sold shares of the stock. Woodline Partners LP purchased a new stake in shares of RLJ Lodging Trust during the fourth quarter valued at approximately $9,714,000. Donald Smith & CO. Inc. boosted its position in RLJ Lodging Trust by 18.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 5,756,233 shares of the real estate investment trust’s stock valued at $58,771,000 after buying an additional 901,111 shares during the period. Ameriprise Financial Inc. boosted its position 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 valued at $24,486,000 after buying an additional 885,071 shares during the period. Invenomic Capital Management LP bought a new stake in RLJ Lodging Trust in the 4th quarter worth $9,036,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of RLJ Lodging Trust by 294.1% in the third 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. 92.35% of the stock is owned by hedge funds and other institutional investors.

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.