RLJ Lodging Trust (NYSE:RLJ) Reaches New 1-Year Low – Here’s Why

RLJ Lodging Trust (NYSE:RLJ)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $8.78 and last traded at $8.78, with a volume of 495290 shares trading hands. The stock had previously closed at $8.85.

Analyst Ratings Changes

RLJ has been the subject of a number of analyst reports. Bank of America cut their price objective on shares of 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. Compass Point downgraded RLJ Lodging Trust from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $10.00 in a report on Monday, August 5th. Wolfe Research cut RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Truist Financial dropped their target price on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday. Finally, Wells Fargo & Company lowered RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $11.00 to $9.00 in a research note on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.71.

RLJ Lodging Trust Trading Down 0.5 %

The company has a market capitalization of $1.37 billion, a PE ratio of 34.04, a P/E/G ratio of 0.86 and a beta of 1.69. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.60 and a current ratio of 2.60. The business has a fifty day moving average price of $9.27 and a 200 day moving average price of $9.68.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.25). RLJ Lodging Trust had a net margin of 4.93% and a return on equity of 3.34%. The business had revenue of $369.30 million during the quarter, compared to analysts’ expectations of $365.67 million. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Analysts expect that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On RLJ Lodging Trust

Hedge funds have recently made changes to their positions in the business. Quarry LP increased its holdings 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 purchasing an additional 3,627 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of RLJ Lodging Trust by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,564 shares during the period. Ground Swell Capital LLC acquired a new stake in shares of RLJ Lodging Trust in the third quarter valued at about $93,000. BOKF NA acquired a new stake in shares of RLJ Lodging Trust in the first quarter valued at about $139,000. Finally, Allspring Global Investments Holdings LLC lifted its position in RLJ Lodging Trust by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,944 shares of the real estate investment trust’s stock worth $141,000 after acquiring an additional 1,229 shares in the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

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.