|Over a month ago|
Compass Point more bullish on hotels, upgrades RLJ Lodging Trust to Buy » 08:1003/0103/01/21
As previously reported,…
As previously reported, Compass Point analyst Floris van Dijkum upgraded RLJ Lodging Trust to Buy from Neutral with a price target of $17, up from $14, given her more bullish stance on the hotel sector given her expectation for the sector to trade on sentiment as investors "seek liquid and leveraged ways to play the upturn in the economic recovery." RLJ's fourth quarter report came in ahead of her estimates and the company's 95 open hotels were hotel EBITDA positive, noted van Dijkum, who sees an earnings inflection as "imminent."
RLJ Lodging Trust upgraded to Buy from Neutral at Compass Point » 06:2503/0103/01/21
Compass Point analyst…
Compass Point analyst Floris van Dijkum upgraded RLJ Lodging Trust to Buy from Neutral.
RLJ Lodging Trust reports Q4 FFO (28c), consensus (29c) » 16:5402/2502/25/21
Reports Q4 revenue…
Reports Q4 revenue $91.1M, consensus $99.73M. CEO Leslie Hale says: "We are encouraged that as the vaccine distribution becomes more widespread, it could lead to meaningful improvement in fundamentals during the second half of this year. As we demonstrated with our third and fourth quarter results, our portfolio construct is allowing us to grow revenues earlier, achieve overall profitability quicker and is positioning us to take advantage of growth opportunities as the recovery unfolds."
Stratus Properties announces appointment of Kate Henriksen to its board » 08:3801/2701/27/21
Stratus Properties (STRS)…
Stratus Properties (STRS) announced the appointment of Kate B. Henriksen to its Board of Directors .Ms. Henriksen will serve as an independent Class III director, effective immediately, and will be up for election to the Board at the 2022 Annual Meeting of Stockholders. William H. Armstrong III, Chairman of the Board, President and Chief Executive Officer of Stratus, stated, "We are pleased that Kate Henriksen has joined our Board, bringing a deep understanding of real estate investing and real estate investment trust, REIT, operations. She currently serves as Co-Chief Investment Officer of the NYSE-traded REIT RLJ Lodging Trust (RLJ) where she has actively managed RLJ's capital recycling program and overseen the underwriting on $8.0 billion of transactions, including RLJ's merger with FelCor Lodging Trust in 2017. Ms. Henriksen is certainly well-positioned to help guide Stratus' strategic direction."
|Over a quarter ago|
RLJ Lodging Trust downgraded to Market Perform from Outperform at Raymond James » 07:1311/2311/23/20
Raymond James analyst…
Raymond James analyst William Crow downgraded RLJ Lodging Trust to Market Perform from Outperform without a price target. Recent strong gains in RLJ's shares, and that of other lodging/leisure/travel stocks, have pulled forward expected gains and pushed the share price effectively up to the firm's prior $12 target. Aside from near-term challenges, Crow has felt incrementally better about RLJ recently as the company has amassed considerable balance sheet dry powder, which removes survivability risk and longer-term, provides RLJ with the flexibility to pursue a series of value-creating investment opportunities within its existing portfolio and/or seek attractive external growth opportunities.
RLJ Lodging Trust downgraded to Market Perform from Outperform at Raymond James » 04:4611/2311/23/20
Raymond James analyst…
Raymond James analyst William Crow downgraded RLJ Lodging Trust to Market Perform from Outperform without a price target citing valuation following the recent rally in the shares.
RLJ Lodging Trust not issuing FY20 outlook due to uncertainties » 16:3711/0411/04/20
RLJ Lodging Trust said:…
RLJ Lodging Trust said: "Given the uncertainties related to the pandemic and its impact on travel, the Company is unable to provide a future outlook at this time." RLJ said the company reopened 27 hotels during the third quarter and has subsequently reopened three hotels. Currently, 96 of the company's 103 hotels are open, representing 93% of the overall portfolio. "The company will evaluate reopening the remaining hotels based on market conditions. All open hotels continue to operate under aggressive operating cost containment plans, including significantly reduced staffing, elimination of non-essential amenities and services, and modified food and beverage offerings," RLJ added.
RLJ Lodging Trust reports Q3 adjusted FFO/share (32c) vs. 46c a year ago » 16:3611/0411/04/20
Reports Q3 revenue…
Reports Q3 revenue $83.93M, consensus $88.19M. "We are encouraged by our third quarter results, which exceeded our expectations as our portfolio benefited from the relative strength in leisure and an uptick in pockets of business transient and small group demand. We executed on all fronts to maintain our strong liquidity. This quarter, we reopened a significant number of hotels and continued our aggressive asset management efforts to minimize operating costs, which led to a further reduction in our burn rate. We believe that our solid execution has positioned us not only to continue to navigate the current environment and benefit early in the recovery, but also to outperform throughout the next lodging cycle," said CEO Leslie Hale.
RLJ Lodging Trust initiated with a Neutral at Compass Point » 07:1610/0510/05/20
Compass Point analyst…
Compass Point analyst Floris van Dijkum initiated coverage of RLJ Lodging Trust with a Neutral rating and $9.50 price target as she started coverage of seven Hotel REITs that she says represent 76% of the hotel sector's market capitalization. All hotel REITs appear to have too much leverage and she expects all seven hotel REITs she is covering will likely need to raise equity, the analyst tells investors. She expects nearly all hotel owners to be EBITDA negative this year due to the sharp fall in travel and hotel occupancy as a result of the pandemic, the analyst added.
Fly Intel: Top five analyst downgrades » 09:5409/2909/29/20
WPX, AZUL, CHH, HST, RLJ
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. WPX Energy (WPX) downgraded to Neutral from Buy at MKM Partners. 2. Azul (AZUL) downgraded to Neutral from Outperform at Bradesco BBI with analyst Victor Mizusaki saying he sees limited upside potential of 4% after the stock's 66% rebound since mid-March. 3. Choice Hotels (CHH) downgraded to Underperform from Neutral at BofA. 4. Host Hotels (HST) downgraded to Underperform from Neutral at BofA. 5. RLJ Lodging Trust (RLJ) downgraded to Underperform from Neutral at BofA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.