Zacks Research Downgrades RLJ Lodging Trust (NYSE:RLJ) to Hold

Key Points

• Zacks Research downgraded RLJ Lodging Trust from “strong buy” to “hold,” while analysts’ overall consensus remains “reduce” with an average price target of $10.83.
• Analyst views are mixed: price targets range from $10.50 to $13.00, with two buy ratings, five holds and three sell ratings.
• RLJ shares opened at $12.35, near their 52-week high of $12.57. The company recently reported quarterly revenue of $339.98 million and a loss of $0.05 per share, modestly beating consensus estimates.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on RLJ. Truist Financial increased their price objective on shares of RLJ Lodging Trust from $7.00 to $10.00 and gave the company a "hold" rating in a research report on Friday, June 12th. Oppenheimer reissued an "outperform" rating and set a $13.00 target price (up from $10.00) on shares of RLJ Lodging Trust in a research report on Thursday, June 18th. Bank of America upped their target price on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the company an "underperform" rating in a research note on Monday, July 20th. Raymond James Financial lowered shares of RLJ Lodging Trust from a "strong-buy" rating to an "outperform" rating and raised their price target for the company from $9.00 to $11.00 in a report on Thursday, May 28th. Finally, UBS Group set a $13.00 price target on shares of RLJ Lodging Trust in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $10.83.

RLJ Lodging Trust Price Performance

Shares of NYSE RLJ opened at $12.35 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89. RLJ Lodging Trust has a 1-year low of $6.54 and a 1-year high of $12.57. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -1,234.60 and a beta of 1.09. The business has a 50-day moving average of $11.45 and a 200-day moving average of $9.27.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last announced its earnings results on Monday, May 4th. The real estate investment trust reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $339.98 million for the quarter, compared to the consensus estimate of $323.51 million. RLJ Lodging Trust had a return on equity of 1.37% and a net margin of 1.84%.The company's revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. On average, equities analysts anticipate that RLJ Lodging Trust will post 1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On RLJ Lodging Trust

A number of institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of RLJ Lodging Trust by 2,721.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust's stock worth $25,000 after buying an additional 3,347 shares in the last quarter. Daytona Street Capital LLC bought a new stake in shares of RLJ Lodging Trust in the fourth quarter worth $28,000. PNC Financial Services Group Inc. raised its holdings in RLJ Lodging Trust by 166.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 2,887 shares in the last quarter. Danske Bank A S acquired a new stake in RLJ Lodging Trust in the third quarter valued at $50,000. Finally, Los Angeles Capital Management LLC bought a new position in RLJ Lodging Trust during the 4th quarter valued at $51,000. 92.35% of the stock is owned by institutional investors and hedge funds.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company's portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust's hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source