RLJ Lodging Trust (NYSE:RLJ – Get Rating) had its price target reduced by Wells Fargo & Company from $15.00 to $13.50 in a research note released on Monday, Stock Target Advisor reports. They currently have an equal weight rating on the real estate investment trust's stock.
Several other equities analysts have also recently weighed in on the company. KeyCorp reduced their price target on RLJ Lodging Trust from $20.00 to $16.00 and set an overweight rating for the company in a research report on Tuesday, June 28th. Truist Financial reduced their target price on RLJ Lodging Trust to $17.00 and set a na rating for the company in a research report on Wednesday, May 18th. TheStreet upgraded RLJ Lodging Trust from a d+ rating to a c- rating in a research report on Thursday, May 5th. Barclays reduced their target price on RLJ Lodging Trust from $18.00 to $15.00 and set an equal weight rating for the company in a research report on Thursday, July 7th. Finally, StockNews.com upgraded RLJ Lodging Trust from a sell rating to a hold rating in a research report on Monday, August 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $16.58.
Get RLJ Lodging Trust alerts:RLJ Lodging Trust Price Performance
Shares of NYSE RLJ opened at $12.26 on Monday. The stock has a market cap of $2.00 billion, a PE ratio of -10.95 and a beta of 1.77. RLJ Lodging Trust has a fifty-two week low of $10.19 and a fifty-two week high of $16.22. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.83 and a current ratio of 3.83. The stock has a fifty day moving average of $12.00 and a 200-day moving average of $13.03.
RLJ Lodging Trust Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from RLJ Lodging Trust's previous quarterly dividend of $0.01. RLJ Lodging Trust's payout ratio is -3.57%.Institutional Investors Weigh In On RLJ Lodging Trust
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pictet Asset Management SA lifted its stake in shares of RLJ Lodging Trust by 1.8% in the 4th quarter. Pictet Asset Management SA now owns 62,630 shares of the real estate investment trust's stock valued at $872,000 after acquiring an additional 1,104 shares during the last quarter. abrdn plc lifted its stake in shares of RLJ Lodging Trust by 3.2% in the 1st quarter. abrdn plc now owns 36,696 shares of the real estate investment trust's stock valued at $522,000 after acquiring an additional 1,151 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of RLJ Lodging Trust by 1.2% in the 2nd quarter. AQR Capital Management LLC now owns 97,227 shares of the real estate investment trust's stock valued at $1,072,000 after acquiring an additional 1,165 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of RLJ Lodging Trust by 3.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 35,377 shares of the real estate investment trust's stock valued at $391,000 after acquiring an additional 1,168 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in RLJ Lodging Trust by 6.1% during the 1st quarter. Teacher Retirement System of Texas now owns 34,224 shares of the real estate investment trust's stock valued at $482,000 after purchasing an additional 1,972 shares during the period. Institutional investors own 98.00% of the company's stock.
RLJ Lodging Trust Company Profile
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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 consists of 103 hotels with approximately 22,570 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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