Wells Fargo & Company Issues Positive Forecast for RLJ Lodging Trust (NYSE:RLJ) Stock Price

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) had its price target increased by equities researchers at Wells Fargo & Company from $6.00 to $7.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "underweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target would indicate a potential downside of 7.53% from the company's previous close.

Other research analysts have also recently issued reports about the stock. Oppenheimer lowered 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 report on Thursday, May 8th. Wall Street Zen cut RLJ Lodging Trust from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. KeyCorp decreased their price objective on 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, Truist Financial lowered their price objective on RLJ Lodging Trust from $10.00 to $7.00 and set a "hold" rating on the stock in a research report on Monday, June 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, RLJ Lodging Trust presently has a consensus rating of "Hold" and an average target price of $9.50.

RLJ Lodging Trust Stock Performance

Shares of NYSE RLJ traded up $0.03 during midday trading on Tuesday, hitting $7.57. 1,053,158 shares of the company's stock were exchanged, compared to its average volume of 1,914,416. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $1.15 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 2.41 and a beta of 1.47. RLJ Lodging Trust has a 12 month low of $6.16 and a 12 month high of $10.84. The company's 50 day moving average price is $7.31 and its 200 day moving average price is $8.39.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. The firm had revenue of $328.12 million during the quarter, compared to analysts' expectations of $328.08 million. RLJ Lodging Trust had a net margin of 4.84% and a return on equity of 3.43%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. As a group, analysts predict that RLJ Lodging Trust will post 1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Inspire Investing LLC lifted its position in RLJ Lodging Trust by 10.7% during the first quarter. Inspire Investing LLC now owns 43,412 shares of the real estate investment trust's stock worth $343,000 after purchasing an additional 4,206 shares during the period. Strs Ohio acquired a new position in shares of RLJ Lodging Trust in the 1st quarter valued at approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of RLJ Lodging Trust by 11.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 993,552 shares of the real estate investment trust's stock worth $7,839,000 after acquiring an additional 103,065 shares during the period. 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 worth $21,951,000 after acquiring an additional 1,830,803 shares during the period. Finally, Aristeia Capital L.L.C. bought a new position in RLJ Lodging Trust in the first quarter valued at approximately $294,000. Institutional investors 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.