Truist Financial Issues Pessimistic Forecast for RLJ Lodging Trust (NYSE:RLJ) Stock Price

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) had its price objective dropped by equities researchers at Truist Financial from $10.00 to $7.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price target would suggest a potential downside of 6.48% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer reduced their target price 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. Wells Fargo & Company reduced their price objective on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating for the company in a research note on Tuesday, February 18th. 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. Finally, KeyCorp decreased 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. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, RLJ Lodging Trust presently has a consensus rating of "Hold" and an average target price of $10.25.

RLJ Lodging Trust Price Performance

NYSE RLJ traded up $0.06 on Monday, reaching $7.49. The company had a trading volume of 610,651 shares, compared to its average volume of 2,283,089. The stock has a market capitalization of $1.14 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 2.87 and a beta of 1.48. RLJ Lodging Trust has a 12 month low of $6.16 and a 12 month high of $10.84. 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's 50 day moving average price is $7.15 and its 200 day moving average price is $8.79.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.31 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $328.12 million during the quarter, compared to analyst estimates of $328.08 million. During the same period in the prior year, the company earned $0.33 earnings per share. The firm's revenue was up 1.1% on a year-over-year basis. As a group, equities analysts predict that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

Insider Activity

In related news, Director Patricia L. Gibson bought 10,000 shares of the stock in a transaction dated Friday, March 28th. The shares were acquired at an average cost of $8.03 per share, for a total transaction of $80,300.00. Following the acquisition, the director now directly owns 124,217 shares in the company, valued at approximately $997,462.51. This trade represents a 8.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.60% of the company's stock.

Institutional Trading of RLJ Lodging Trust

Hedge funds have recently made changes to their positions in the company. KBC Group NV acquired a new position in RLJ Lodging Trust in the first quarter valued at about $27,000. GF Fund Management CO. LTD. purchased a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at approximately $29,000. Versant Capital Management Inc boosted its position in shares of 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 worth $29,000 after purchasing an additional 2,944 shares during the period. US Bancorp DE boosted its position in shares of 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 worth $33,000 after purchasing an additional 1,417 shares during the period. Finally, Blueshift Asset Management LLC acquired a new stake in RLJ Lodging Trust in the 1st quarter valued at approximately $82,000. Hedge funds and other institutional investors own 92.35% of the company's stock.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-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.

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