Barclays Maintains an 'Overweight' on RLJ Lodging Trust (NYSE: RLJ); 3Q Results Mixed; 2011 Outlook Reaffirmed

Barclays maintains an 'Overweight' on RLJ Lodging Trust (NYSE: RLJ) price target of $20.00.

Barclays analyst says, "3Q11 adj FFO/sh of $0.37 was below our estimate of $0.43 and consensus of $0.40. The miss versus our estimate was driven by lower margins and lower F&B revenues. RevPAR growth of 8% outperformed our 6.6% estimate. Hotel EBITDA was $66.6mn, with margins of 33.8%, versus our estimates $70.5mn and 35.4% respectively. 3Q11 adjusted EBITDA was $61.9mn, with margins of 31.4% vs. our estimates of $66.5mn and consensus of $63mn."

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 $14.67 yesterday.

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