RLJ Lodging Trust (NYSE:RLJ) Downgraded to "Hold" Rating by Baird R W

Key Points

• RLJ Lodging Trust has been downgraded from a "strong-buy" rating to a "hold" rating by Baird R W, with other brokerages also reaffirming or adjusting their ratings on the stock.
• The company's quarterly earnings exceeded expectations, reporting $0.48 earnings per share, but revenue declined by 1.7% compared to the same quarter last year.
• RLJ Lodging Trust holds a market cap of $1.07 billion and currently has an average price target from analysts of $9.10.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) was downgraded by analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other brokerages have also recently weighed in on RLJ. Robert W. Baird reaffirmed a "neutral" rating and set a $7.50 price objective (down from $9.00) on shares of RLJ Lodging Trust in a research note on Friday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of RLJ Lodging Trust in a research note on Saturday, September 27th. Zacks Research raised shares of RLJ Lodging Trust from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. Wells Fargo & Company boosted their target price on shares of RLJ Lodging Trust from $6.00 to $7.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Finally, Truist Financial boosted their target price on shares of RLJ Lodging Trust from $7.00 to $8.00 and gave the stock a "hold" rating in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $9.10.

RLJ Lodging Trust Price Performance

NYSE:RLJ opened at $7.06 on Friday. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.19. The firm has a market cap of $1.07 billion, a PE ratio of 33.60 and a beta of 1.49. RLJ Lodging Trust has a 12 month low of $6.16 and a 12 month high of $10.84. The company's 50-day moving average price is $7.48 and its two-hundred day moving average price is $7.43.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $363.10 million for the quarter, compared to analysts' expectations of $365.30 million. RLJ Lodging Trust had a net margin of 4.23% and a return on equity of 3.03%. The company's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. RLJ Lodging Trust has set its FY 2025 guidance at 1.380-1.580 EPS. On average, equities analysts anticipate that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

Institutional Investors Weigh In On RLJ Lodging Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of RLJ Lodging Trust by 5.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,739 shares of the real estate investment trust's stock worth $803,000 after buying an additional 5,209 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of RLJ Lodging Trust during the first quarter worth approximately $551,000. KBC Group NV bought a new stake in shares of RLJ Lodging Trust during the first quarter worth approximately $27,000. Asset Management One Co. Ltd. raised its stake in shares of RLJ Lodging Trust by 0.8% during the first quarter. Asset Management One Co. Ltd. now owns 222,411 shares of the real estate investment trust's stock worth $1,755,000 after buying an additional 1,762 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of RLJ Lodging Trust by 2,455.6% during the first quarter. Victory Capital Management Inc. now owns 469,769 shares of the real estate investment trust's stock worth $3,706,000 after buying an additional 451,387 shares during the last quarter. 92.35% of the stock is owned by institutional investors.

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.

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