RLJ Lodging Trust (NYSE:RLJ) Shares Gap Down on Analyst Downgrade

Shares of RLJ Lodging Trust (NYSE:RLJ - Get Free Report) gapped down before the market opened on Monday after Truist Financial lowered their price target on the stock from $10.00 to $7.00. The stock had previously closed at $7.43, but opened at $7.26. Truist Financial currently has a hold rating on the stock. RLJ Lodging Trust shares last traded at $7.43, with a volume of 122,791 shares changing hands.

Several other research firms have also weighed in on RLJ. KeyCorp reduced their price objective on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Wells Fargo & Company decreased their price target on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating for the company in a report on Tuesday, February 18th. Oppenheimer decreased their price target on shares of RLJ Lodging Trust from $12.00 to $11.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, Wall Street Zen lowered shares of RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.96.

Insider Activity

In related news, Director Patricia L. Gibson bought 10,000 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were acquired at an average price of $8.03 per share, with a total value of $80,300.00. Following the completion of the transaction, the director now owns 124,217 shares of the company's stock, valued at $997,462.51. The trade was a 8.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On RLJ Lodging Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its position in RLJ Lodging Trust by 97.4% during the third quarter. Barclays PLC now owns 271,749 shares of the real estate investment trust's stock worth $2,495,000 after acquiring an additional 134,093 shares during the period. Fisher Asset Management LLC increased its position in RLJ Lodging Trust by 7.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,331,818 shares of the real estate investment trust's stock worth $34,018,000 after acquiring an additional 232,393 shares during the period. Sanctuary Advisors LLC bought a new position in RLJ Lodging Trust during the fourth quarter worth $277,000. Two Sigma Investments LP increased its position in RLJ Lodging Trust by 103.5% during the fourth quarter. Two Sigma Investments LP now owns 488,403 shares of the real estate investment trust's stock worth $4,987,000 after acquiring an additional 248,350 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in RLJ Lodging Trust during the fourth quarter worth $995,000. Institutional investors own 92.35% of the company's stock.

RLJ Lodging Trust Price Performance

The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74. The stock's 50 day simple moving average is $7.17 and its two-hundred day simple moving average is $8.73. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 2.87 and a beta of 1.48.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm had revenue of $328.12 million for the quarter, compared to the consensus estimate of $328.08 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The business's revenue was up 1.1% compared to the same quarter last year. On average, analysts forecast that RLJ Lodging Trust will post 1.37 earnings per share for the current fiscal year.

RLJ Lodging Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 8.26%. RLJ Lodging Trust's dividend payout ratio is currently 230.77%.

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.