Wells Fargo & Company Issues Positive Forecast for RLJ Lodging Trust (NYSE:RLJ) Stock Price

RLJ Lodging Trust (NYSE:RLJ) had its price objective boosted by stock analysts at Wells Fargo & Company from $10.00 to $10.50 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 0.10% from the company’s previous close.

Several other analysts also recently commented on the stock. Wolfe Research downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Truist Financial reduced their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, October 28th. Oppenheimer upped their target price on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RLJ Lodging Trust currently has a consensus rating of “Hold” and an average target price of $11.50.

RLJ Lodging Trust Trading Up 0.6 %

Shares of NYSE:RLJ traded up $0.06 on Monday, hitting $10.49. The company had a trading volume of 188,803 shares, compared to its average volume of 1,429,123. RLJ Lodging Trust has a 1 year low of $8.74 and a 1 year 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’s 50-day simple moving average is $9.50 and its two-hundred day simple moving average is $9.49. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 2.32 and a beta of 1.72.

RLJ Lodging Trust (NYSE:RLJ) last announced its 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 firm had revenue of $345.74 million during the quarter, compared to the consensus estimate of $342.93 million. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. Equities 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 bought and sold shares of the stock. State Street Corp boosted its holdings in RLJ Lodging Trust by 4.8% in the 3rd quarter. State Street Corp now owns 7,397,290 shares of the real estate investment trust’s stock worth $68,999,000 after buying an additional 340,271 shares during the period. Donald Smith & CO. Inc. grew its stake in RLJ Lodging Trust by 46.6% during the third quarter. Donald Smith & CO. Inc. now owns 4,855,122 shares of the real estate investment trust’s stock valued at $44,570,000 after acquiring an additional 1,543,848 shares in the last quarter. Geode Capital Management LLC increased its holdings in RLJ Lodging Trust by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,930,177 shares of the real estate investment trust’s stock valued at $36,085,000 after acquiring an additional 44,121 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in RLJ Lodging Trust by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust’s stock worth $32,977,000 after purchasing an additional 170,484 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of RLJ Lodging Trust by 25.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,991,625 shares of the real estate investment trust’s stock valued at $18,283,000 after purchasing an additional 400,100 shares during the last quarter. Hedge funds and other 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.