RLJ Lodging Trust (RLJ) is Downgraded by Raymond James to Mkt Perform

RLJ Lodging Trust (RLJ) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Apr 27, 2016.

Many Wall Street Analysts have commented on RLJ Lodging Trust. Shares were Reiterated by Barclays on Mar 9, 2016 to “Underweight” and Lowered the Price Target to $ 24 from a previous price target of $25 .RLJ Lodging Trust was Upgraded by BofA/Merrill to ” Buy” on Feb 17, 2016.

On the company’s financial health, RLJ Lodging Trust reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 24, 2016. Analyst had a consensus of $0.59. The company had revenue of $275.30 million for the quarter, compared to analysts expectations of $275.42 million. The company’s revenue was down -1.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.57 EPS.

RLJ Lodging Trust closed down -0.23 points or -1.05% at $21.58 with 7,89,169 shares getting traded on Friday. Post opening the session at $21.93, the shares hit an intraday low of $21.22 and an intraday high of $22.09 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Nov 13, 2015, Joseph J Ryan (director) purchased 2,000 shares at $25.37 per share price.

RLJ Lodging Trust is a self-advised and self-administered Maryland real estate investment trust (REIT). The Company is engaged in acquiring full-service hotels. As of December 31 2014 the Company through its wholly owned subsidiaries owned 146 properties which consisted of 144 hotels with approximately 22900 rooms and two planned hotel conversions located in 21 states and the District of Columbia and an interest in one mortgage loan secured by a hotel. The Company’s hotels are located in the New York New York; Chicago Illinois; Austin Texas; Denver-Boulder Colorado; Houston Texas and the Baltimore Maryland-Washington D.C. metropolitan areas. It operates its hotels under various brands with nearly 97% of hotels operating under existing relationships with Marriott Hilton or Hyatt. The Company’s subsidiaries include RLJ LODGING TRUST L.P. RLJ LODGING TRUST LIMITED PARTNER LLC RLJ LODGING ACQUISITIONS LLC and RLJ LODGING TRUST MASTER TRS INC. among others.

RLJ Lodging Trust

Leave a Reply

RLJ Lodging Trust - Is it time to Sell?

Top Brokerage Firms are advising their investors on RLJ Lodging Trust. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.