RLJ Lodging Trust's (RLJ) Outperform Rating Reaffirmed at Oppenheimer

Key Points

• Oppenheimer reaffirmed its Outperform rating on RLJ Lodging Trust and raised its price target from $13 to $15, implying about 15% upside from the cited share price.
• Analyst views are mixed: MarketBeat’s consensus rating is Hold, with an average price target of $12.06.
• RLJ reported quarterly revenue of $354.48 million and an EPS loss of $0.01, both better than analyst expectations; revenue increased 7.4% year over year.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Oppenheimer in a research report issued on Tuesday, Benzinga reports. They presently have a $15.00 price objective on the real estate investment trust's stock, up from their previous price objective of $13.00. Oppenheimer's price target suggests a potential upside of 15.25% from the company's current price.

A number of other analysts have also issued reports on RLJ. Raymond James Financial lowered shares of RLJ Lodging Trust from an "outperform" rating to a "market perform" rating in a research note on Monday, September 28th. Truist Financial raised their price objective on shares of RLJ Lodging Trust from $10.00 to $11.00 and gave the company a "hold" rating in a research note on Monday, September 21st. Bank of America lifted their price objective on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the company an "underperform" rating in a report on Monday, July 20th. LADENBURG THALM/SH SH upped their target price on shares of RLJ Lodging Trust from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Finally, Wells Fargo & Company increased their target price on shares of RLJ Lodging Trust from $9.00 to $11.00 and gave the stock an "underweight" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.06.

RLJ Lodging Trust Price Performance

RLJ Lodging Trust stock traded up $0.14 during midday trading on Tuesday, reaching $13.02. The company had a trading volume of 374,164 shares, compared to its average volume of 2,013,958. The company has a debt-to-equity ratio of 1.50, a current ratio of 5.71 and a quick ratio of 5.71. RLJ Lodging Trust has a 12-month low of $7.14 and a 12-month high of $12.98. The company has a market capitalization of $1.98 billion, a P/E ratio of 216.45, a P/E/G ratio of 2.18 and a beta of 1.14. The firm's fifty day simple moving average is $11.50 and its 200-day simple moving average is $10.02.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last released its earnings results on Wednesday, November 4th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. RLJ Lodging Trust had a net margin of 2.55% and a return on equity of 1.99%. The business had revenue of $354.48 million during the quarter, compared to analyst estimates of $343.24 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that RLJ Lodging Trust will post 1.34 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in RLJ Lodging Trust by 33.2% in the third quarter. GAMMA Investing LLC now owns 3,837 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 957 shares during the period. PNC Financial Services Group Inc. grew its position in shares of RLJ Lodging Trust by 29.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the real estate investment trust's stock worth $44,000 after buying an additional 1,374 shares during the period. Choreo LLC grew its position in shares of RLJ Lodging Trust by 3.1% during the 3rd quarter. Choreo LLC now owns 46,203 shares of the real estate investment trust's stock worth $511,000 after buying an additional 1,387 shares during the period. Cim Investment Management Inc. increased its stake in shares of RLJ Lodging Trust by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 21,889 shares of the real estate investment trust's stock valued at $259,000 after acquiring an additional 1,485 shares in the last quarter. Finally, Ethic Inc. increased its stake in shares of RLJ Lodging Trust by 16.9% in the 3rd quarter. Ethic Inc. now owns 12,049 shares of the real estate investment trust's stock valued at $133,000 after acquiring an additional 1,745 shares in the last quarter. Hedge funds and other institutional investors own 92.35% of the company's stock.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a real estate investment trust that owns a portfolio of hotels in the United States. The company focuses primarily on premium-branded, compact full-service hotels, which typically offer lodging and amenities such as dining and meeting facilities.

Its properties are located in a range of markets, including urban areas and other locations near major sources of hotel demand. The hotels operate under well-known brands, while day-to-day property management may be handled by third-party operators.

RLJ Lodging Trust was formed in 2011 and is headquartered in Bethesda, Maryland.

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