RLJ Lodging Trust (NYSE:RLJ) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

by · The Cerbat Gem

RLJ Lodging Trust (NYSE:RLJ – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.85 and traded as high as $9.64. RLJ Lodging Trust shares last traded at $9.5750, with a volume of 1,107,960 shares traded.

Wall Street Analysts Forecast Growth

RLJ has been the topic of several recent research reports. LADENBURG THALM/SH SH initiated coverage on shares of RLJ Lodging Trust in a research report on Thursday, March 26th. They set a “neutral” rating and a $8.50 target price on the stock. Weiss Ratings upgraded shares of RLJ Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Truist Financial cut their target price on shares of RLJ Lodging Trust from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, RLJ Lodging Trust has an average rating of “Hold” and an average target price of $7.50.

Get Our Latest Research Report on RLJ

RLJ Lodging Trust Stock Down 0.1%

The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -957.50 and a beta of 1.08. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.22. The stock’s 50-day moving average price is $8.16 and its 200-day moving average price is $7.85.

RLJ Lodging Trust (NYSE:RLJ – Get Free Report) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $339.98 million during the quarter, compared to analyst estimates of $323.51 million. RLJ Lodging Trust had a net margin of 1.84% and a return on equity of 1.37%. RLJ Lodging Trust’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. On average, sell-side analysts expect that RLJ Lodging Trust will post 1.22 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.15 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 6.3%. RLJ Lodging Trust’s payout ratio is currently -6,000.00%.

Institutional Trading of RLJ Lodging Trust

Several hedge funds have recently modified their holdings of RLJ. EverSource Wealth Advisors LLC increased its stake in shares of RLJ Lodging Trust by 2,721.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 3,347 shares in the last quarter. Daytona Street Capital LLC bought a new stake in shares of RLJ Lodging Trust in the 4th quarter valued at $28,000. PNC Financial Services Group Inc. increased its stake in shares of RLJ Lodging Trust by 166.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 2,887 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of RLJ Lodging Trust in the 3rd quarter valued at $36,000. Finally, Danske Bank A S bought a new stake in shares of RLJ Lodging Trust in the 3rd quarter valued at $50,000. Institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Company Profile

(Get Free Report)

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.

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