Barclays Maintains RLJ Lodging Trust to Underweight with Price Target $22.00

Brokerage firm Barclays Maintains its rating on RLJ Lodging Trust(NYSE:RLJ). In a research note issued to the investors, the brokerage major Lowers the price-target to $22.00 per share. The shares have been rated Underweight. The rating by Barclays was issued on Aug 5, 2016.

In a different note, On Jul 15, 2016, Canaccord Genuity said it Downgrades its rating on RLJ Lodging Trust. The shares have been rated ‘Hold’ by the firm. On May 19, 2016, Bank of America said it Downgrades its rating on RLJ Lodging Trust. The shares have been rated ‘Underperform’ by the firm.

RLJ Lodging Trust (RLJ) shares turned negative on Wednesdays trading session with the shares closing down -0.14 points or -0.60% at a volume of 15,31,298. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $23.61. The peak price level was also seen at $23.61 while the days lowest was $23.05. Finally the shares closed at $23.32. The 52-week high of the shares is $29.26 while the 52-week low is $16.15. According to the latest information available, the market cap of the company is $2,899 M.

RLJ Lodging Trust(RLJ) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $317.11M. Analysts had an estimated revenue of $318.00M. Earnings per share were $0.47. Analysts had estimated an EPS of $0.46.

Several Insider Transactions has been reported to the SEC. On Aug 1, 2016, Leslie D. Hale (COO and CFO) sold 10,000 shares at $23.62 per share price.Also, 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.

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