RLJ Lodging Trust (NYSE:RLJ) Stock Price Expected to Rise, Oppenheimer Analyst Says

RLJ Lodging Trust (NYSE:RLJ) had its target price increased by Oppenheimer from $11.00 to $12.00 in a report released on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently weighed in on RLJ. Wolfe Research cut shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. StockNews.com lowered shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Bank of America dropped their price objective on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, July 22nd. Compass Point lowered shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $10.00 in a report on Monday, August 5th. Finally, Truist Financial dropped their price objective on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.29.

RLJ Lodging Trust Price Performance

Shares of RLJ stock opened at $9.62 on Tuesday. The firm’s 50 day moving average price is $9.29 and its two-hundred day moving average price is $9.55. The stock has a market cap of $1.47 billion, a PE ratio of 33.16, a PEG ratio of 0.95 and a beta of 1.70. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.74 and a current ratio of 2.74.

RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). The firm had revenue of $345.74 million for the quarter, compared to the consensus estimate of $342.93 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. As a group, analysts forecast that RLJ Lodging Trust will post 1.34 EPS for the current year.

Institutional Investors Weigh In On RLJ Lodging Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its stake in RLJ Lodging Trust by 197.3% in the 2nd quarter. Quarry LP now owns 5,465 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 3,627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of RLJ Lodging Trust by 34.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 1,564 shares during the last quarter. Ground Swell Capital LLC acquired a new position in shares of RLJ Lodging Trust during the 3rd quarter worth about $93,000. Aigen Investment Management LP acquired a new position in shares of RLJ Lodging Trust during the 3rd quarter worth about $107,000. Finally, BOKF NA acquired a new position in shares of RLJ Lodging Trust during the 1st quarter worth about $139,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.

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.