RLJ Lodging Trust (RLJ) has been under a strong bear grip, hence the stock is down -3.7% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.41% in the past 1 week. The stock has risen by 1.38% in the past week indicating that the buyers are active at lower levels, but the stock is down -3.33% in the past 4 weeks.
RLJ Lodging Trust is up 25.38% in the last 3-month period. Year-to-Date the stock performance stands at 12.33%. The stock has recorded a 20-day Moving Average of 0.1% and the 50-Day Moving Average is 5.13%.
RLJ Lodging Trust (NYSE:RLJ): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.44 and $23.28 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.58. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.54, notching a gain of 0.21% for the day. The total traded volume was 856,098 . The stock had closed at $23.49 on the previous day.
Also, Equity Analysts at the Baird downgrades the rating on RLJ Lodging Trust (NYSE:RLJ). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Outperform. The rating by the firm was issued on August 8, 2016.
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 22,900 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 Companys 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 Companys 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.