RLJ Lodging Trust (NYSE:RLJ) Reaches New 1-Year Low at $11.00

RLJ Lodging Trust (NYSE:RLJGet Rating)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $11.00 and last traded at $11.02, with a volume of 3366263 shares changing hands. The stock had previously closed at $11.05.

Several analysts recently weighed in on the stock. StockNews.com cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Monday, June 6th. TheStreet upgraded shares of RLJ Lodging Trust from a “d+” rating to a “c-” rating in a report on Thursday, May 5th. Truist Financial cut their price target on shares of RLJ Lodging Trust to $17.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Finally, Oppenheimer assumed coverage on shares of RLJ Lodging Trust in a report on Thursday, April 21st. They issued an “outperform” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.33.

The stock has a market cap of $1.84 billion, a P/E ratio of -6.98 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 1.08. The stock’s fifty day moving average price is $13.32 and its 200 day moving average price is $13.69.

RLJ Lodging Trust (NYSE:RLJGet Rating) last announced its earnings results on Wednesday, May 4th. The real estate investment trust reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). RLJ Lodging Trust had a negative net margin of 26.67% and a negative return on equity of 11.58%. The business had revenue of $242.90 million for the quarter, compared to the consensus estimate of $239.79 million. During the same quarter last year, the firm posted ($0.18) EPS. The business’s quarterly revenue was up 103.2% on a year-over-year basis. As a group, sell-side analysts forecast that RLJ Lodging Trust will post 1.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Wednesday, June 29th. RLJ Lodging Trust’s dividend payout ratio is presently -2.45%.

Several institutional investors and hedge funds have recently bought and sold shares of RLJ. Norges Bank purchased a new position in shares of RLJ Lodging Trust in the 4th quarter worth about $23,538,000. Charles Schwab Investment Management Inc. raised its position in RLJ Lodging Trust by 49.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,294,607 shares of the real estate investment trust’s stock worth $46,389,000 after buying an additional 1,091,984 shares during the last quarter. State Street Corp raised its position in RLJ Lodging Trust by 14.9% in the 1st quarter. State Street Corp now owns 7,993,522 shares of the real estate investment trust’s stock worth $112,627,000 after buying an additional 1,038,447 shares during the last quarter. Balyasny Asset Management LLC purchased a new position in RLJ Lodging Trust in the 3rd quarter worth about $11,562,000. Finally, Long Pond Capital LP purchased a new position in RLJ Lodging Trust in the 4th quarter worth about $10,806,000. 98.00% of the stock is owned by hedge funds and other institutional investors.

RLJ Lodging Trust Company Profile (NYSE:RLJ)

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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