RLJ Lodging Trust (NYSE:RLJ) Sets New 12-Month High - Here's Why

Key Points

• RLJ Lodging Trust shares reached a new 52-week high of $12.55, up from the prior close of $12.34. The stock’s consensus analyst rating remains “Hold,” with an average price target of $10.83.
• The company exceeded quarterly expectations, reporting adjusted earnings of a $0.05 loss per share versus the estimated $0.07 loss, while revenue rose 3.6% year over year to $339.98 million.
• RLJ paid a quarterly dividend of $0.15 per share, equivalent to an annualized $0.60 dividend and a 4.8% yield; institutional investors own approximately 92.35% of the company’s stock.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $12.55 and last traded at $12.55, with a volume of 246 shares. The stock had previously closed at $12.34.

Analyst Upgrades and Downgrades

RLJ has been the subject of several recent analyst reports. Truist Financial lifted their price target on RLJ Lodging Trust from $7.00 to $10.00 and gave the company a "hold" rating in a report on Friday, June 12th. Oppenheimer reiterated an "outperform" rating and set a $13.00 price target (up from $10.00) on shares of RLJ Lodging Trust in a research note on Thursday, June 18th. Raymond James Financial downgraded shares of RLJ Lodging Trust from a "strong-buy" rating to an "outperform" rating and raised their price objective for the stock from $9.00 to $11.00 in a report on Thursday, May 28th. Wells Fargo & Company boosted their price target on shares of RLJ Lodging Trust from $9.00 to $11.00 and gave the stock an "underweight" rating in a research note on Thursday. Finally, Wall Street Zen raised RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Sunday, June 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, RLJ Lodging Trust has a consensus rating of "Hold" and an average target price of $10.83.

RLJ Lodging Trust Price Performance

The stock has a market capitalization of $1.91 billion, a P/E ratio of -1,255.00 and a beta of 1.09. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.22. The business has a fifty day simple moving average of $11.00 and a 200 day simple moving average of $9.00.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. The company had revenue of $339.98 million during the quarter, compared to analyst estimates of $323.51 million. RLJ Lodging Trust had a return on equity of 1.37% and a net margin of 1.84%.The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. On average, analysts expect that RLJ Lodging Trust will post 1.26 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, June 30th. RLJ Lodging Trust's dividend payout ratio (DPR) is currently -6,000.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RLJ. EverSource Wealth Advisors LLC lifted its stake in RLJ Lodging Trust by 2,721.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 3,347 shares during the period. Daytona Street Capital LLC purchased a new position in RLJ Lodging Trust in the 4th quarter valued at $28,000. PNC Financial Services Group Inc. increased its holdings in shares of RLJ Lodging Trust by 166.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 2,887 shares during the last quarter. Danske Bank A S acquired a new stake in RLJ Lodging Trust during the third quarter worth about $50,000. Finally, Los Angeles Capital Management LLC purchased a new stake in RLJ Lodging Trust in the fourth quarter valued at $51,000. Hedge funds and other 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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