Compass Point Reiterates a 'Buy' on RLJ Lodging Trust (RLJ); Raising Estimates After Strong Q1
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Price: $11.50 +0.17%
Rating Summary:
9 Buy, 7 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
9 Buy, 7 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Compass Point reiterates a 'Buy' on RLJ Lodging Trust (NYSE: RLJ) price target of $20.00.
Analyst, Wilkes Graham, said, "We reiterate our rating and price target on shares of RLJ and are slightly increasing our estimates. The company reported a very strong 1Q12 that beat even our Street-high expectations. RevPAR grew 9% pro forma of rolling renovations which should be completed by 4Q12, and management sounded increasingly confident that the current $150M acquisition pipeline will translate into closings later this year. We are slightly adjusting our estimates higher and maintaining our $20 price target, which is based on a 12.5x multiple on 2012 EBITDA."
"we are raising our RevPAR assumption for 2012 to 7.1% from 6.1%, our hotel EBITDA assumption for 2012 from $282M to $285M, and our 2012 and 2013 AFFO per share estimates to $1.71 and $1.92, respectively, from $1.68 and $1.90."
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 $18.44 yesterday.
Analyst, Wilkes Graham, said, "We reiterate our rating and price target on shares of RLJ and are slightly increasing our estimates. The company reported a very strong 1Q12 that beat even our Street-high expectations. RevPAR grew 9% pro forma of rolling renovations which should be completed by 4Q12, and management sounded increasingly confident that the current $150M acquisition pipeline will translate into closings later this year. We are slightly adjusting our estimates higher and maintaining our $20 price target, which is based on a 12.5x multiple on 2012 EBITDA."
"we are raising our RevPAR assumption for 2012 to 7.1% from 6.1%, our hotel EBITDA assumption for 2012 from $282M to $285M, and our 2012 and 2013 AFFO per share estimates to $1.71 and $1.92, respectively, from $1.68 and $1.90."
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 $18.44 yesterday.
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