RLJ Lodging Trust (NYSE:RLJ) had its price objective lifted by equities researchers at KeyCorp from $16.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. KeyCorp's target price would indicate a potential upside of 31.41% from the stock's previous close.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Tuesday, March 23rd. Truist upgraded RLJ Lodging Trust from a "hold" rating to a "buy" rating in a research report on Wednesday, April 14th. Truist Financial raised RLJ Lodging Trust from a "hold" rating to a "buy" rating and upped their price target for the stock from $13.00 to $19.00 in a research report on Wednesday, April 14th. Truist Securities raised RLJ Lodging Trust from a "hold" rating to a "buy" rating and upped their price target for the stock from $13.00 to $19.00 in a research report on Tuesday. Finally, Compass Point raised RLJ Lodging Trust from a "neutral" rating to a "buy" rating in a research report on Monday, March 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of "Hold" and a consensus target price of $13.86.
Shares of RLJ opened at $15.22 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 4.84 and a current ratio of 4.84. The stock has a 50 day simple moving average of $15.92 and a 200 day simple moving average of $13.34. RLJ Lodging Trust has a 52-week low of $7.22 and a 52-week high of $17.51. The firm has a market capitalization of $2.51 billion, a PE ratio of -8.10 and a beta of 2.16.
RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Thursday, February 25th. The real estate investment trust reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.31) by ($0.26). RLJ Lodging Trust had a negative net margin of 38.79% and a negative return on equity of 10.73%. Equities research analysts predict that RLJ Lodging Trust will post -1.08 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in RLJ. Norges Bank bought a new stake in shares of RLJ Lodging Trust during the 4th quarter worth approximately $30,240,000. JPMorgan Chase & Co. raised its stake in shares of RLJ Lodging Trust by 118.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,991,030 shares of the real estate investment trust's stock worth $42,322,000 after purchasing an additional 1,619,252 shares in the last quarter. Matarin Capital Management LLC bought a new stake in shares of RLJ Lodging Trust during the 3rd quarter worth approximately $4,077,000. Morgan Stanley raised its stake in shares of RLJ Lodging Trust by 17.4% during the 4th quarter. Morgan Stanley now owns 2,387,479 shares of the real estate investment trust's stock worth $33,782,000 after purchasing an additional 354,350 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new stake in RLJ Lodging Trust in the 4th quarter valued at $4,851,000. Institutional investors own 87.80% 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 103 hotels with approximately 22,570 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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