RLJ Lodging Trust (NYSE:RLJ) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

RLJ Lodging Trust (NYSE:RLJ)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.60 and traded as high as $9.79. RLJ Lodging Trust shares last traded at $9.77, with a volume of 801,357 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Oppenheimer lifted their price objective on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company upped their price target on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the company an “underweight” rating in a report on Monday, December 9th. Finally, Truist Financial cut their price objective on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, RLJ Lodging Trust currently has an average rating of “Hold” and an average target price of $10.92.

RLJ Lodging Trust Stock Performance

The stock’s 50 day simple moving average is $10.09 and its two-hundred day simple moving average is $9.60. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The company has a market cap of $1.50 billion, a PE ratio of 33.79 and a beta of 1.68.

RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The business had revenue of $345.74 million during the quarter, compared to analysts’ expectations of $342.93 million. During the same period in the prior year, the business posted $0.40 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend was Tuesday, December 31st. RLJ Lodging Trust’s dividend payout ratio is presently 206.90%.

Institutional Investors Weigh In On RLJ Lodging Trust

A number of large investors have recently added to or reduced their stakes in RLJ. SG Americas Securities LLC acquired a new position in RLJ Lodging Trust during the 3rd quarter worth $431,000. Handelsbanken Fonder AB raised its position in shares of RLJ Lodging Trust by 23.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 38,941 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 7,400 shares in the last quarter. Inspire Investing LLC grew its stake in shares of RLJ Lodging Trust by 22.3% in the 3rd quarter. Inspire Investing LLC now owns 44,682 shares of the real estate investment trust’s stock worth $410,000 after purchasing an additional 8,136 shares during the last quarter. Creative Planning purchased a new position in shares of RLJ Lodging Trust in the third quarter worth approximately $275,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in RLJ Lodging Trust by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 1,564 shares in the last quarter. 92.35% of the stock is 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.