Barclays: Downgrade Hits Shares of RLJ Lodging Trust (NYSE:RLJ)


RLJ Lodging Trust (NYSE:RLJ) Receives a Downgrade

Barclays lowered shares of RLJ Lodging Trust (NYSE:RLJ) from what was a Equal Weight rating to a Underweight rating via a recent report disseminated on Friday morning. The brokerage presently has a $25 price target on firm. We will have to monitor the stock for any movement following this news.

From a total of 8 analysts covering RLJ Lodging Trust (NYSE:RLJ) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $32 while the lowest target price is $24. The mean of all analyst targets is $30.13 with a 51.14% above today’s ($21.55) stock price. RLJ Lodging Trust was the topic of 11 analyst reports since August 7, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 9 with “Outperform” rating. Canaccord Genuity maintained shares with “Buy” rating and $34 target share price in a report from an August 11. Wells Fargo downgraded RLJ stock in a recent report from October 14 to “Market Perform” rating. Finally, Barclays Capital downgraded the stock to “Overweight” rating in a report issued on an August 12.

Approximately 1.25 million shares of stock traded hands or 9.65% up from the average. RLJ Lodging Trust (NYSE:RLJ) has declined 24.98% since May 15, 2015 and is downtrending. It has underperformed by 21.17% the S&P500.

The overall sentiment of institutions has decreased to 0.79 in Q2 2015. Its down 0.28, from 1.07 in 2015Q2. The ratio fall, as 28 institutions have sold all the shares of RLJ Lodging Trust that they owned while 75 funds have taken shares off the table. 20 funds have purchased shares for the first time while 61 added to their positions. These institutions now hold 113.88 million shares or 12.82% less than the 130.63 million shares they owned in 2015Q2.

The Fund Lasalle Investment Management Securities Llc currently is holding shares equating to 1.5% of its total portfolio in RLJ Lodging Trust representing a total of 5.03 million shares. Another fund,Palouse Capital Management Inc., is holding a total of 133,678 shares equating to 1.3% of their holdings. Additionally, Delphi Management Inc Ma has a 301,604 share stake in RLJ Lodging Trust which represents 1.2% of their total portfolio. The Fund, Aew Capital Management L P, based out of Massachusetts, has also built up a stake in the stock, which represents a total of 1.02% of their total portfolio. Finally Shinko Asset Management Co. Ltd., a fund which is based in the state of Japan reported a total holdings of 3.37 million shares.

RLJ Lodging Trust is a self-advised and self-administered Maryland real estate investment trust . The company has a market cap of $2.82 billion. The Firm is engaged in acquiring full-service hotels. It has 18.35 P/E ratio. 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.

According to Zacks Investment Research, “RLJ Lodging Trust is a REIT focused on investing primarily in premium-branded, focused-service, and compact full-service hotels. It plans to own hotels concentrated in urban and dense suburban markets.”