Oppenheimer Begins Coverage on RLJ Lodging Trust (NYSE:RLJ)

Equities researchers at Oppenheimer initiated coverage on shares of RLJ Lodging Trust (NYSE:RLJGet Rating) in a research note issued to investors on Thursday, Marketbeat reports. The firm set an “outperform” rating and a $20.00 price target on the real estate investment trust’s stock. Oppenheimer’s target price would indicate a potential upside of 41.44% from the company’s previous close.

Other analysts also recently issued reports about the company. Robert W. Baird raised RLJ Lodging Trust from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $17.00 to $18.00 in a report on Friday, January 14th. StockNews.com cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Saturday, April 2nd. Finally, Zacks Investment Research upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 2nd.

NYSE RLJ opened at $14.14 on Thursday. RLJ Lodging Trust has a 1-year low of $11.92 and a 1-year high of $16.74. The company has a market cap of $2.35 billion, a PE ratio of -7.03 and a beta of 1.90. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.31 and a quick ratio of 4.31. The stock’s 50 day simple moving average is $13.90 and its 200-day simple moving average is $14.01.

RLJ Lodging Trust (NYSE:RLJGet Rating) last posted its earnings results on Wednesday, February 23rd. The real estate investment trust reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.37). RLJ Lodging Trust had a negative net margin of 38.84% and a negative return on equity of 14.23%. The business had revenue of $238.09 million during the quarter, compared to analysts’ expectations of $232.24 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. RLJ Lodging Trust’s revenue for the quarter was up 161.4% compared to the same quarter last year. On average, equities research analysts anticipate that RLJ Lodging Trust will post 1.16 EPS for the current fiscal year.

In other RLJ Lodging Trust news, Director Nathaniel A. Davis sold 40,000 shares of RLJ Lodging Trust stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $14.40, for a total value of $576,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of RLJ Lodging Trust during the 4th quarter worth about $36,000. Penserra Capital Management LLC grew its stake in RLJ Lodging Trust by 65.5% during the third quarter. Penserra Capital Management LLC now owns 3,750 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 1,484 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in RLJ Lodging Trust during the fourth quarter worth about $102,000. Van ECK Associates Corp grew its stake in RLJ Lodging Trust by 16.8% during the third quarter. Van ECK Associates Corp now owns 7,713 shares of the real estate investment trust’s stock worth $115,000 after buying an additional 1,110 shares during the last quarter. Finally, Leisure Capital Management acquired a new position in shares of RLJ Lodging Trust during the third quarter worth approximately $152,000. 98.73% of the stock is owned by hedge funds and other institutional investors.

RLJ Lodging Trust Company Profile (Get Rating)

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 consists of 103 hotels with approximately 22,570 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.

Recommended Stories

Receive News & Ratings for RLJ Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLJ Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.