Janney Montgomery Scott Starts RLJ Lodging Trust (RLJ) at Buy

September 26, 2016 6:16 AM EDT
Get Alerts RLJ Hot Sheet
Price: $23.90 -0.58%

Rating Summary:
    6 Buy, 6 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Janney Montgomery Scott initiates coverage on RLJ Lodging Trust (NYSE: RLJ) with a Buy rating and a fair value target $24.00, saying they like the valuation, balance sheet and select-service exposure.

Analyst Tyler Batory commented, "We think the stock can outperform relative to other lodging REITs. We like the exposure to select-service assets given our bullish outlook for this segment of the industry. In the event of a downturn, RLJ should also benefit from the geographic diversity of its portfolio, its strong balance sheet, ample liquidity, and a sustainable dividend. Our fair value is $24, which is 11x our 2017 adjusted EBITDA."

For an analyst ratings summary and ratings history on RLJ Lodging Trust click here. For more ratings news on RLJ Lodging Trust click here.

Shares of RLJ Lodging Trust closed at $21.90 yesterday.

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