RLJ Lodging Trust (NYSE:RLJ) Given Average Recommendation of "Reduce" by Brokerages

Key Points

• Analysts have a cautious view of RLJ Lodging Trust: Ten firms give the stock an average “Reduce” rating, with three sells, five holds and two buys. The average 12-month price target is $10.94.
• Institutional ownership is substantial: Hedge funds and other institutions own 92.35% of RLJ’s shares, with several major investors increasing their positions.
• RLJ offers a 5.5% dividend yield: The company recently paid a quarterly dividend of $0.15, equivalent to $0.60 annually, while shares opened at $10.99 and remained below their 52-week high of $12.89.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) has been given an average recommendation of "Reduce" by the ten research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $10.9444.

A number of research firms have commented on RLJ. Raymond James Financial lowered RLJ Lodging Trust from a "strong-buy" rating to an "outperform" rating and upped their price target for the company from $9.00 to $11.00 in a research report on Thursday, May 28th. Oppenheimer reaffirmed an "outperform" rating and issued a $13.00 price objective (up from $10.00) on shares of RLJ Lodging Trust in a research note on Thursday, June 18th. LADENBURG THALM/SH SH lifted their price objective on RLJ Lodging Trust from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. UBS Group set a $13.00 target price on RLJ Lodging Trust in a report on Thursday, June 18th. Finally, Bank of America increased their target price on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the company an "underperform" rating in a research report on Monday, July 20th.

Hedge Funds Weigh In On RLJ Lodging Trust

Hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. boosted its position in RLJ Lodging Trust by 23.1% during the fourth quarter. Donald Smith & CO. Inc. now owns 13,140,744 shares of the real estate investment trust's stock valued at $97,899,000 after acquiring an additional 2,463,189 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of RLJ Lodging Trust by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 3,844,974 shares of the real estate investment trust's stock valued at $28,650,000 after purchasing an additional 114,163 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of RLJ Lodging Trust by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,709,660 shares of the real estate investment trust's stock valued at $27,637,000 after purchasing an additional 74,252 shares during the period. Fisher Asset Management LLC boosted its position in shares of RLJ Lodging Trust by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 3,127,412 shares of the real estate investment trust's stock valued at $23,299,000 after purchasing an additional 94,291 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of RLJ Lodging Trust by 33.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,042,014 shares of the real estate investment trust's stock valued at $21,903,000 after purchasing an additional 759,913 shares in the last quarter. Institutional investors own 92.35% of the company's stock.

RLJ Lodging Trust Stock Performance

NYSE RLJ opened at $10.99 on Monday. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 7.63 and a beta of 1.09. RLJ Lodging Trust has a twelve month low of $6.54 and a twelve month high of $12.89. The stock has a fifty day simple moving average of $11.59 and a 200 day simple moving average of $9.44. The company has a quick ratio of 5.71, a current ratio of 5.71 and a debt-to-equity ratio of 1.50.

RLJ Lodging Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Tuesday, June 30th.

RLJ Lodging Trust Company Profile

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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