RLJ Lodging Trust (NYSE:RLJ) Hits New 52-Week Low at $8.84

RLJ Lodging Trust (NYSE:RLJ) hit a new 52-week low during trading on Friday . The company traded as low as $8.84 and last traded at $8.95, with a volume of 31511 shares changing hands. The stock had previously closed at $9.25.

Analyst Upgrades and Downgrades

RLJ has been the subject of several recent analyst reports. Bank of America dropped their price objective on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, July 22nd. Robert W. Baird dropped their price target on RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, June 11th. Finally, StockNews.com cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.07.

RLJ Lodging Trust Stock Down 0.1 %

The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 32.86, a price-to-earnings-growth ratio of 0.84 and a beta of 1.70. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average is $9.65 and its two-hundred day moving average is $10.83.

RLJ Lodging Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Friday, June 28th. RLJ Lodging Trust’s dividend payout ratio (DPR) is 142.86%.

Hedge Funds Weigh In On RLJ Lodging Trust

Hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. purchased a new position in shares of RLJ Lodging Trust in the fourth quarter valued at $13,597,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of RLJ Lodging Trust by 4,772.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,175,932 shares of the real estate investment trust’s stock worth $13,782,000 after buying an additional 1,151,800 shares during the period. Norges Bank purchased a new stake in shares of RLJ Lodging Trust in the fourth quarter worth approximately $11,996,000. Alexander Randolph Advisory Inc. bought a new position in RLJ Lodging Trust during the fourth quarter valued at approximately $5,381,000. Finally, Vanguard Group Inc. raised its position in shares of RLJ Lodging Trust by 1.7% in the first quarter. Vanguard Group Inc. now owns 25,236,820 shares of the real estate investment trust’s stock valued at $298,299,000 after purchasing an additional 420,428 shares during the period. 92.35% of the stock is currently owned by hedge funds and other institutional investors.

RLJ Lodging Trust Company Profile

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.