LADENBURG THALM/SH SH Boosts RLJ Lodging Trust (NYSE:RLJ) Price Target to $13.00

Key Points

• Ladenburg Thalmann raised RLJ Lodging Trust’s price target from $12.00 to $13.00 while maintaining a “neutral” rating, implying approximately 18.88% upside from the current price.
• Analyst sentiment remains cautious overall: RLJ has a consensus rating of “Reduce” and a consensus price target of $10.94, based on two Buy, five Hold, and three Sell ratings.
• RLJ shares opened at $10.94, compared with a 52-week range of $6.54 to $12.89, while institutional investors own a substantial 92.35% of the company.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) had its price objective hoisted by LADENBURG THALM/SH SH from $12.00 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. LADENBURG THALM/SH SH's price target would indicate a potential upside of 18.88% from the stock's current price.

RLJ has been the subject of several other research reports. Zacks Research cut shares of RLJ Lodging Trust from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Oppenheimer reissued an "outperform" rating and issued a $13.00 target price (up from $10.00) on shares of RLJ Lodging Trust in a report on Thursday, June 18th. Weiss Ratings upgraded shares of RLJ Lodging Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 24th. Wall Street Zen upgraded shares of RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Sunday, June 7th. Finally, Raymond James Financial downgraded shares of RLJ Lodging Trust from a "strong-buy" rating to an "outperform" rating and upped their price target for the stock from $9.00 to $11.00 in a report on Thursday, May 28th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $10.94.

RLJ Lodging Trust Price Performance

NYSE:RLJ opened at $10.94 on Monday. RLJ Lodging Trust has a one year low of $6.54 and a one year high of $12.89. The company has a market cap of $1.66 billion, a P/E ratio of 8.28 and a beta of 1.09. The firm's fifty day moving average price is $11.52 and its two-hundred day moving average price is $9.32. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89.

Institutional Trading of RLJ Lodging Trust

Institutional investors have recently modified their holdings of the business. Deutsche Bank AG acquired a new stake in RLJ Lodging Trust in the second quarter valued at $1,968,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in RLJ Lodging Trust during the 2nd quarter worth about $1,544,000. Bank of New York Mellon Corp bought a new stake in shares of RLJ Lodging Trust in the 2nd quarter valued at about $7,482,000. State of Wyoming bought a new stake in shares of RLJ Lodging Trust in the 2nd quarter valued at about $683,000. Finally, Amundi increased its stake in shares of RLJ Lodging Trust by 11.1% in the first quarter. Amundi now owns 84,756 shares of the real estate investment trust's stock valued at $629,000 after buying an additional 8,468 shares during the period. Institutional investors own 92.35% of the company's stock.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company's portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust's hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.

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