Truist Financial Lowers RLJ Lodging Trust (NYSE:RLJ) Price Target to $7.00

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) had its price objective reduced by equities research analysts at Truist Financial from $10.00 to $7.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "hold" rating on the real estate investment trust's stock. Truist Financial's target price points to a potential downside of 3.58% from the stock's previous close.

RLJ has been the topic of a number of other research reports. Oppenheimer cut their price target on shares of RLJ Lodging Trust from $12.00 to $11.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Wells Fargo & Company cut their price target on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a research note on Tuesday, February 18th. Finally, KeyCorp cut their price target on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $9.96.

RLJ Lodging Trust Trading Down 1.0%

Shares of RLJ traded down $0.07 on Monday, hitting $7.26. 1,525,618 shares of the stock traded hands, compared to its average volume of 1,897,102. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $1.10 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.87 and a beta of 1.48. The stock's 50 day moving average is $7.17 and its two-hundred day moving average is $8.73. RLJ Lodging Trust has a 1 year low of $6.16 and a 1 year high of $10.84.

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

Insider Transactions at RLJ Lodging Trust

In other RLJ Lodging Trust news, Director Patricia L. Gibson acquired 10,000 shares of the company's stock in a transaction dated Friday, March 28th. The stock was bought 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 directly owns 124,217 shares of the company's stock, valued at approximately $997,462.51. The trade was a 8.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On RLJ Lodging Trust

Large investors have recently made changes to their positions in the business. KBC Group NV acquired a new stake in shares of RLJ Lodging Trust in the first quarter worth $27,000. GF Fund Management CO. LTD. acquired a new stake in RLJ Lodging Trust during the 4th quarter valued at $29,000. Versant Capital Management Inc grew its holdings in RLJ Lodging Trust by 402.7% during the 1st quarter. Versant Capital Management Inc now owns 3,675 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 2,944 shares in the last quarter. US Bancorp DE grew its holdings in RLJ Lodging Trust by 78.2% during the 4th quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,417 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in RLJ Lodging Trust during the 1st quarter valued at $82,000. Institutional investors and hedge funds own 92.35% of the company's stock.

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.