Barclays Raises Estimates and Price Target on RLJ Lodging Trust (RLJ) After Strong Q1 and Outlook

Barclays maintains an 'Overweight' on RLJ Lodging Trust (NYSE: RLJ) price target price target from $20 to $21.

Analyst, Sule Sauvigne, said, "RLJ's better than expected 1Q12 earnings and its positive outlook for the rest of the year reflect both the ongoing US lodging recovery and RLJ's positioning in attractive lodging markets. We remain OW on RLJ shares given its attractive valuation (RLJ trades at 10x 2013 EBITDA versus the group average of 11x) and acquisition opportunities (including 3 hotels currently in the pipeline)."

Barclays raiess FY12 EPS Estimate raised from $1.57 to $1.70 1and FY13 from $1.90 to $1.92.

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 $18.25 yesterday.

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