RLJ Lodging Trust (NYSE:RLJ) Sees Unusually-High Trading Volume

RLJ Lodging Trust (NYSE:RLJGet Rating) shares saw unusually-strong trading volume on Thursday . Approximately 264,895 shares changed hands during mid-day trading, a decline of 86% from the previous session’s volume of 1,895,212 shares.The stock last traded at $10.25 and had previously closed at $10.66.

Several equities analysts recently issued reports on RLJ shares. StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Monday, June 6th. Truist Financial lowered their price target on shares of RLJ Lodging Trust to $17.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Oppenheimer started coverage on shares of RLJ Lodging Trust in a report on Thursday, April 21st. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, TheStreet raised shares of RLJ Lodging Trust from a “d+” rating to a “c-” rating in a report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.33.

The stock’s 50 day moving average is $13.21 and its two-hundred day moving average is $13.65. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 1.08.

RLJ Lodging Trust (NYSE:RLJGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The company had revenue of $242.90 million during the quarter, compared to analysts’ expectations of $239.79 million. RLJ Lodging Trust had a negative net margin of 26.67% and a negative return on equity of 11.58%. The company’s quarterly revenue was up 103.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) earnings per share. As a group, equities analysts anticipate that RLJ Lodging Trust will post 1.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.38%. RLJ Lodging Trust’s payout ratio is -2.45%.

A number of hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of RLJ Lodging Trust by 49.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,294,607 shares of the real estate investment trust’s stock worth $46,389,000 after buying an additional 1,091,984 shares during the last quarter. State Street Corp increased its holdings in shares of RLJ Lodging Trust by 14.9% during the 1st quarter. State Street Corp now owns 7,993,522 shares of the real estate investment trust’s stock worth $112,627,000 after buying an additional 1,038,447 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of RLJ Lodging Trust during the 3rd quarter worth approximately $11,562,000. Long Pond Capital LP acquired a new stake in shares of RLJ Lodging Trust during the 4th quarter worth approximately $10,806,000. Finally, Palisade Capital Management LLC NJ increased its holdings in shares of RLJ Lodging Trust by 42.9% during the 4th quarter. Palisade Capital Management LLC NJ now owns 2,300,322 shares of the real estate investment trust’s stock worth $32,043,000 after buying an additional 690,786 shares during the last quarter. Institutional investors own 98.00% of the company’s stock.

RLJ Lodging Trust Company Profile (NYSE:RLJ)

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.

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