RLJ Lodging Trust (NYSE:RLJ) Price Target Lowered to $10.00 at Bank of America

RLJ Lodging Trust (NYSE:RLJ) had its target price cut by Bank of America from $12.00 to $10.00 in a research report released on Monday morning, Benzinga reports. They currently have an underperform rating on the real estate investment trust’s stock.

A number of other analysts also recently weighed in on RLJ. StockNews.com lowered shares of RLJ Lodging Trust from a hold rating to a sell rating in a research note on Thursday, May 23rd. Robert W. Baird reduced their price target on shares of RLJ Lodging Trust from $13.00 to $12.00 and set an outperform rating on the stock in a research report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $13.07.

RLJ Lodging Trust Stock Up 0.1 %

Shares of NYSE RLJ opened at $9.34 on Monday. The firm’s 50-day moving average is $9.71 and its 200-day moving average is $10.90. RLJ Lodging Trust has a 1 year low of $9.06 and a 1 year high of $12.39. The firm has a market capitalization of $1.46 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 0.83 and a beta of 1.70. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 1.13.

RLJ Lodging Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Friday, June 28th. RLJ Lodging Trust’s dividend payout ratio is 142.86%.

Institutional Investors Weigh In On RLJ Lodging Trust

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of RLJ Lodging Trust by 0.7% in the third quarter. Vanguard Group Inc. now owns 24,728,978 shares of the real estate investment trust’s stock worth $242,097,000 after purchasing an additional 183,408 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of RLJ Lodging Trust by 3.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 126,244 shares of the real estate investment trust’s stock valued at $1,480,000 after acquiring an additional 4,414 shares during the last quarter. Vert Asset Management LLC raised its holdings in RLJ Lodging Trust by 2.9% during the fourth quarter. Vert Asset Management LLC now owns 62,650 shares of the real estate investment trust’s stock worth $734,000 after acquiring an additional 1,787 shares in the last quarter. Custom Index Systems LLC acquired a new position in RLJ Lodging Trust during the fourth quarter valued at approximately $262,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in RLJ Lodging Trust by 4.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 178,304 shares of the real estate investment trust’s stock valued at $2,090,000 after purchasing an additional 8,145 shares in the last quarter. 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.