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

RLJ Lodging Trust (NYSE:RLJ) had its target price boosted by Oppenheimer from $11.00 to $12.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Several other analysts have also weighed in on RLJ. Wells Fargo & Company lowered shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $11.00 to $9.00 in a report on Friday, September 13th. Truist Financial dropped their price objective on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, October 28th. Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Bank of America dropped their price objective on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, July 22nd. Finally, Compass Point lowered shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $10.00 in a report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.29.

RLJ Lodging Trust Stock Performance

NYSE:RLJ opened at $9.62 on Tuesday. RLJ Lodging Trust has a 12-month low of $8.74 and a 12-month high of $12.39. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $1.47 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 0.95 and a beta of 1.70. The firm has a 50-day moving average price of $9.29 and a 200 day moving average price of $9.55.

RLJ Lodging Trust (NYSE:RLJ) last posted 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). RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The business had revenue of $345.74 million during the quarter, compared to analyst estimates of $342.93 million. During the same period last year, the company earned $0.40 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts anticipate that RLJ Lodging Trust will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of RLJ Lodging Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of 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. boosted its stake in RLJ Lodging Trust by 34.9% in the third 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 acquiring an additional 1,564 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in RLJ Lodging Trust by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 389,527 shares of the real estate investment trust’s stock valued at $3,576,000 after acquiring an additional 1,634 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in RLJ Lodging Trust by 0.8% in the third quarter. Asset Management One Co. Ltd. now owns 225,738 shares of the real estate investment trust’s stock valued at $2,072,000 after acquiring an additional 1,755 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in RLJ Lodging Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 27,568 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 1,903 shares during the last quarter. Institutional investors and hedge funds own 92.35% 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 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.