RLJ Lodging Trust (NYSE:RLJ – Get Rating)'s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.11 and last traded at $10.26, with a volume of 89155 shares changing hands. The stock had previously closed at $10.62.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on RLJ. StockNews.com upgraded RLJ Lodging Trust from a "sell" rating to a "hold" rating in a research report on Monday, August 8th. KeyCorp dropped their target price on RLJ Lodging Trust from $20.00 to $16.00 and set an "overweight" rating for the company in a research note on Tuesday, June 28th. Wells Fargo & Company dropped their target price on RLJ Lodging Trust from $15.00 to $13.50 and set an "equal weight" rating for the company in a research note on Monday, August 29th. Finally, Barclays dropped 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 note on Thursday, July 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.58.
Get RLJ Lodging Trust alerts:RLJ Lodging Trust Stock Down 3.2 %
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 company has a 50 day simple moving average of $12.33 and a 200 day simple moving average of $12.75.
RLJ Lodging Trust Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, September 29th. This is a positive change from RLJ Lodging Trust's previous quarterly dividend of $0.01. This represents a $0.20 annualized dividend and a yield of 1.95%. RLJ Lodging Trust's dividend payout ratio is currently -3.57%.Institutional Investors Weigh In On RLJ Lodging Trust
Several institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. boosted its position in shares of RLJ Lodging Trust by 25.8% in the second quarter. Federated Hermes Inc. now owns 868,243 shares of the real estate investment trust's stock worth $9,577,000 after buying an additional 178,339 shares during the period. Brown Advisory Inc. boosted its position in shares of RLJ Lodging Trust by 22.9% in the second quarter. Brown Advisory Inc. now owns 48,644 shares of the real estate investment trust's stock worth $537,000 after buying an additional 9,050 shares during the period. Cim Investment Management Inc. purchased a new stake in shares of RLJ Lodging Trust in the second quarter worth about $174,000. Captrust Financial Advisors purchased a new stake in shares of RLJ Lodging Trust in the second quarter worth about $226,000. Finally, Legal & General Group Plc boosted its position in shares of RLJ Lodging Trust by 3.6% in the second quarter. Legal & General Group Plc now owns 975,203 shares of the real estate investment trust's stock worth $10,757,000 after buying an additional 34,338 shares during the period. Hedge funds and other institutional investors own 93.84% of the company's stock.
About RLJ Lodging Trust
(Get Rating)
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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- Get a free copy of the StockNews.com research report on RLJ Lodging Trust (RLJ)
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