Capital One Financial initiated coverage on shares of RLJ Lodging Trust (NYSE:RLJ) in a report issued on Tuesday, June 25th, BenzingaRatingsTable reports. The firm issued an equal weight rating and a $21.00 target price on the real estate investment trust’s stock. Capital One Financial also issued estimates for RLJ Lodging Trust’s Q2 2019 earnings at $0.69 EPS, Q3 2019 earnings at $0.57 EPS, Q4 2019 earnings at $0.45 EPS, FY2019 earnings at $2.18 EPS, Q1 2020 earnings at $0.47 EPS, Q2 2020 earnings at $0.70 EPS, Q3 2020 earnings at $0.57 EPS, Q4 2020 earnings at $0.46 EPS, FY2020 earnings at $2.21 EPS, Q1 2021 earnings at $0.47 EPS and FY2021 earnings at $2.25 EPS.
Several other analysts also recently commented on the stock. Zacks Investment Research raised shares of Zurich Insurance Group from a sell rating to a hold rating in a research report on Saturday, May 18th. Barclays set a $12.00 price target on shares of Rowan Companies and gave the company a sell rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Co reissued a buy rating and issued a $115.00 price target on shares of Tractor Supply in a research report on Wednesday, May 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $22.13.
RLJ Lodging Trust stock traded down $0.27 during mid-day trading on Tuesday, hitting $17.22. 1,537,000 shares of the stock were exchanged, compared to its average volume of 1,386,274. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. RLJ Lodging Trust has a 12 month low of $15.91 and a 12 month high of $23.31. The firm’s fifty day moving average price is $17.74. The firm has a market capitalization of $3.04 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.67%. The ex-dividend date was Thursday, June 27th. RLJ Lodging Trust’s payout ratio is 58.41%.
In other RLJ Lodging Trust news, Director Forgia Robert M. La bought 5,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were bought at an average cost of $17.05 per share, for a total transaction of $85,250.00. Following the purchase, the director now directly owns 53,619 shares of the company’s stock, valued at approximately $914,203.95. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RLJ. Vanguard Group Inc raised its stake in RLJ Lodging Trust by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 25,282,658 shares of the real estate investment trust’s stock valued at $556,977,000 after acquiring an additional 63,508 shares during the period. Rhumbline Advisers raised its stake in RLJ Lodging Trust by 36.8% in the 4th quarter. Rhumbline Advisers now owns 281,521 shares of the real estate investment trust’s stock valued at $4,617,000 after acquiring an additional 75,668 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in RLJ Lodging Trust by 13.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 14,773 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 1,741 shares during the period. Virginia Retirement Systems ET AL raised its stake in RLJ Lodging Trust by 3.0% in the 4th quarter. Virginia Retirement Systems ET AL now owns 61,600 shares of the real estate investment trust’s stock valued at $1,010,000 after acquiring an additional 1,800 shares during the period. Finally, Prudential Financial Inc. raised its stake in RLJ Lodging Trust by 42.4% in the 4th quarter. Prudential Financial Inc. now owns 831,392 shares of the real estate investment trust’s stock valued at $13,635,000 after acquiring an additional 247,673 shares during the period. Institutional investors and hedge funds own 92.10% of the company’s stock.
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 consists of 150 hotels with approximately 28,600 rooms, located in 25 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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