RLJ Lodging Trust (NYSE:RLJ) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

RLJ Lodging Trust (NYSE:RLJ)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.60 and traded as high as $9.79. RLJ Lodging Trust shares last traded at $9.77, with a volume of 801,357 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday. Truist Financial lowered their target price on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Oppenheimer increased their target price on shares of RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company increased their target price on shares of RLJ Lodging Trust from $10.00 to $10.50 and gave the stock an “underweight” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, RLJ Lodging Trust presently has a consensus rating of “Hold” and a consensus target price of $10.92.

RLJ Lodging Trust Stock Performance

The company has a market cap of $1.50 billion, a price-to-earnings ratio of 33.79 and a beta of 1.68. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. The stock’s fifty day simple moving average is $10.09 and its 200 day simple moving average is $9.60.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). The business had revenue of $345.74 million during the quarter, compared to analyst estimates of $342.93 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, analysts anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current year.

RLJ Lodging Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.12%. RLJ Lodging Trust’s dividend payout ratio is currently 206.90%.

Hedge Funds Weigh In On RLJ Lodging Trust

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in shares of RLJ Lodging Trust by 0.5% during the 4th quarter. Rhumbline Advisers now owns 282,846 shares of the real estate investment trust’s stock worth $2,888,000 after purchasing an additional 1,320 shares during the period. US Bancorp DE boosted its position in RLJ Lodging Trust by 78.2% in the 4th quarter. US Bancorp DE now owns 3,230 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,417 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in RLJ Lodging Trust by 34.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,051 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 1,564 shares during the period. Public Employees Retirement System of Ohio boosted its position in RLJ Lodging Trust by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 389,527 shares of the real estate investment trust’s stock valued at $3,576,000 after buying an additional 1,634 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in RLJ Lodging Trust by 0.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 225,738 shares of the real estate investment trust’s stock valued at $2,072,000 after buying an additional 1,755 shares during the period. Hedge funds and other institutional investors own 92.35% of the company’s stock.

RLJ Lodging Trust Company Profile

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.