RLJ Lodging Trust (RLJ) was Downgraded by Robert W. Baird to ” Neutral” while Lowering the Price Target of the company shares to $ 24 from a previous price target of $25 . Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Aug 8, 2016.
Many Wall Street Analysts have commented on RLJ Lodging Trust. Canaccord Genuity Downgraded RLJ Lodging Trust on Jul 15, 2016 to ” Hold”, Price Target of the shares are set at $25.RLJ Lodging Trust was Downgraded by BofA/Merrill to ” Underperform” on May 19, 2016.
On the company’s financial health, RLJ Lodging Trust reported $0.82 EPS for the quarter, based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus estimate of $0.82. The company had revenue of $317.11 million for the quarter, compared to analysts expectations of $317.18 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.
RLJ Lodging Trust opened for trading at $23.11 and hit $23.78 on the upside on Friday, eventually ending the session at $23.75, with a gain of 2.95% or 0.68 points. The heightened volatility saw the trading volume jump to 14,10,226 shares. Company has a market cap of $2,953 M.
In a different news, on Aug 1, 2016, Leslie D. Hale (COO and CFO) sold 10,000 shares at $23.62 per share price. According to the SEC, 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.