Baird downgraded RLJ Lodging Trust (RLJ) to Neutral from Outperform with a price target of $7.50, down from $9. The firm says recent RevPAR trends have been weaker than expected, particularly for the select-service segment. It now sees a downward bias to near-term operating performance and earnings estimates.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RLJ: