RLJ Lodging Trust (NYSE:RLJ) Downgraded by Wall Street Zen to Sell

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Wednesday.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company dropped their target price on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a report on Tuesday, February 18th. Truist Financial lowered shares of RLJ Lodging Trust from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $11.00 to $10.00 in a research note on Friday, March 21st. KeyCorp cut their price objective on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, Oppenheimer lowered their target price 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. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, RLJ Lodging Trust currently has a consensus rating of "Hold" and a consensus target price of $10.68.

RLJ Lodging Trust Trading Up 0.0%

RLJ stock traded up $0.00 during trading on Wednesday, reaching $7.15. The company had a trading volume of 2,565,850 shares, compared to its average volume of 1,886,496. RLJ Lodging Trust has a 52 week low of $6.16 and a 52 week high of $10.84. The company has a market cap of $1.08 billion, a P/E ratio of 24.66, a PEG ratio of 2.87 and a beta of 1.50. The business has a 50 day moving average of $7.33 and a 200 day moving average of $8.94. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74.

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

Insider Buying and Selling

In other RLJ Lodging Trust news, Director Patricia L. Gibson acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were bought at an average cost of $8.03 per share, with a total value of $80,300.00. Following the completion of the transaction, the director now directly owns 124,217 shares of the company's stock, valued at approximately $997,462.51. This represents a 8.76% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On RLJ Lodging Trust

Hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. grew its stake in shares of RLJ Lodging Trust by 0.5% in the first quarter. Donald Smith & CO. Inc. now owns 5,785,113 shares of the real estate investment trust's stock worth $45,645,000 after acquiring an additional 28,880 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in RLJ Lodging Trust by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,690,945 shares of the real estate investment trust's stock worth $37,685,000 after purchasing an additional 98,673 shares during the last quarter. Fisher Asset Management LLC grew its position in RLJ Lodging Trust by 7.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,331,818 shares of the real estate investment trust's stock worth $34,018,000 after purchasing an additional 232,393 shares during the period. Palisade Capital Management LP raised its stake in RLJ Lodging Trust by 0.4% during the 1st quarter. Palisade Capital Management LP now owns 3,071,508 shares of the real estate investment trust's stock valued at $24,234,000 after buying an additional 11,235 shares during the last quarter. Finally, Woodline Partners LP lifted its holdings in shares of RLJ Lodging Trust by 192.4% during the 1st quarter. Woodline Partners LP now owns 2,782,181 shares of the real estate investment trust's stock valued at $21,951,000 after buying an additional 1,830,803 shares during the period. Hedge funds and other institutional investors own 92.35% of the company's stock.

About RLJ Lodging Trust

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.