Intrinsic value of RLJ Lodging Trust - RLJ

Previous Close

$21.10

  Intrinsic Value

$10.86

stock screener

  Rating & Target

sell

-49%

Previous close

$21.10

 
Intrinsic value

$10.86

 
Up/down potential

-49%

 
Rating

sell

Our model is not good at valuating stocks of financial companies, such as RLJ.

We calculate the intrinsic value of RLJ stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.11
  15.20
  14.18
  13.26
  12.44
  11.69
  11.02
  10.42
  9.88
  9.39
  8.95
  8.56
  8.20
  7.88
  7.59
  7.33
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.12
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
Revenue, $m
  1,160
  1,336
  1,526
  1,728
  1,943
  2,170
  2,409
  2,661
  2,923
  3,198
  3,484
  3,782
  4,093
  4,415
  4,750
  5,099
  5,461
  5,837
  6,228
  6,635
  7,058
  7,498
  7,957
  8,435
  8,933
  9,452
  9,994
  10,559
  11,150
  11,767
  12,412
Variable operating expenses, $m
 
  446
  510
  577
  649
  725
  805
  889
  976
  1,068
  1,164
  1,263
  1,367
  1,475
  1,587
  1,703
  1,824
  1,950
  2,080
  2,216
  2,357
  2,504
  2,658
  2,817
  2,984
  3,157
  3,338
  3,527
  3,724
  3,930
  4,146
Fixed operating expenses, $m
 
  581
  596
  611
  626
  642
  658
  674
  691
  708
  726
  744
  763
  782
  801
  821
  842
  863
  884
  906
  929
  952
  976
  1,001
  1,026
  1,051
  1,077
  1,104
  1,132
  1,160
  1,189
Total operating expenses, $m
  940
  1,027
  1,106
  1,188
  1,275
  1,367
  1,463
  1,563
  1,667
  1,776
  1,890
  2,007
  2,130
  2,257
  2,388
  2,524
  2,666
  2,813
  2,964
  3,122
  3,286
  3,456
  3,634
  3,818
  4,010
  4,208
  4,415
  4,631
  4,856
  5,090
  5,335
Operating income, $m
  220
  309
  420
  540
  668
  804
  947
  1,098
  1,256
  1,422
  1,595
  1,775
  1,963
  2,159
  2,363
  2,574
  2,795
  3,025
  3,264
  3,512
  3,771
  4,042
  4,323
  4,617
  4,924
  5,244
  5,578
  5,928
  6,294
  6,676
  7,077
EBITDA, $m
  383
  497
  635
  783
  941
  1,109
  1,286
  1,472
  1,667
  1,871
  2,085
  2,307
  2,538
  2,780
  3,030
  3,291
  3,563
  3,845
  4,139
  4,445
  4,764
  5,096
  5,442
  5,803
  6,180
  6,573
  6,984
  7,413
  7,862
  8,331
  8,822
Interest expense (income), $m
  56
  55
  65
  75
  86
  98
  110
  123
  137
  151
  166
  182
  198
  215
  232
  251
  270
  289
  310
  331
  353
  376
  400
  425
  451
  478
  506
  536
  567
  599
  632
Earnings before tax, $m
  164
  253
  355
  465
  582
  706
  837
  975
  1,119
  1,270
  1,428
  1,593
  1,765
  1,944
  2,130
  2,324
  2,525
  2,735
  2,954
  3,181
  3,418
  3,665
  3,923
  4,192
  4,473
  4,766
  5,072
  5,392
  5,727
  6,078
  6,445
Tax expense, $m
  9
  68
  96
  126
  157
  191
  226
  263
  302
  343
  386
  430
  477
  525
  575
  627
  682
  739
  798
  859
  923
  990
  1,059
  1,132
  1,208
  1,287
  1,369
  1,456
  1,546
  1,641
  1,740
Net income, $m
  200
  185
  259
  339
  425
  515
  611
  711
  817
  927
  1,043
  1,163
  1,288
  1,419
  1,555
  1,696
  1,844
  1,997
  2,156
  2,322
  2,495
  2,676
  2,864
  3,060
  3,265
  3,479
  3,703
  3,936
  4,181
  4,437
  4,705

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  457
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,023
  4,112
  4,695
  5,317
  5,979
  6,678
  7,414
  8,186
  8,995
  9,840
  10,721
  11,638
  12,592
  13,585
  14,616
  15,688
  16,802
  17,960
  19,163
  20,415
  21,717
  23,072
  24,483
  25,953
  27,485
  29,083
  30,750
  32,490
  34,308
  36,206
  38,190
Adjusted assets (=assets-cash), $m
  3,566
  4,112
  4,695
  5,317
  5,979
  6,678
  7,414
  8,186
  8,995
  9,840
  10,721
  11,638
  12,592
  13,585
  14,616
  15,688
  16,802
  17,960
  19,163
  20,415
  21,717
  23,072
  24,483
  25,953
  27,485
  29,083
  30,750
  32,490
  34,308
  36,206
  38,190
Revenue / Adjusted assets
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
Average production assets, $m
  3,523
  4,058
  4,634
  5,248
  5,901
  6,591
  7,318
  8,080
  8,878
  9,712
  10,582
  11,487
  12,429
  13,408
  14,427
  15,484
  16,584
  17,727
  18,914
  20,150
  21,435
  22,772
  24,165
  25,616
  27,129
  28,706
  30,351
  32,069
  33,862
  35,736
  37,695
Working capital, $m
  0
  -527
  -601
  -681
  -766
  -855
  -949
  -1,048
  -1,152
  -1,260
  -1,373
  -1,490
  -1,612
  -1,740
  -1,872
  -2,009
  -2,151
  -2,300
  -2,454
  -2,614
  -2,781
  -2,954
  -3,135
  -3,323
  -3,519
  -3,724
  -3,938
  -4,160
  -4,393
  -4,636
  -4,890
Total debt, $m
  1,583
  1,858
  2,153
  2,467
  2,801
  3,154
  3,526
  3,916
  4,325
  4,751
  5,196
  5,659
  6,141
  6,642
  7,163
  7,704
  8,267
  8,852
  9,459
  10,091
  10,749
  11,433
  12,146
  12,888
  13,662
  14,469
  15,311
  16,190
  17,107
  18,066
  19,068
Total liabilities, $m
  1,801
  2,076
  2,371
  2,685
  3,019
  3,372
  3,744
  4,134
  4,543
  4,969
  5,414
  5,877
  6,359
  6,860
  7,381
  7,922
  8,485
  9,070
  9,677
  10,309
  10,967
  11,651
  12,364
  13,106
  13,880
  14,687
  15,529
  16,408
  17,325
  18,284
  19,286
Total equity, $m
  2,222
  2,035
  2,324
  2,632
  2,959
  3,305
  3,670
  4,052
  4,453
  4,871
  5,307
  5,761
  6,233
  6,724
  7,235
  7,766
  8,317
  8,890
  9,486
  10,105
  10,750
  11,421
  12,119
  12,847
  13,605
  14,396
  15,221
  16,083
  16,982
  17,922
  18,904
Total liabilities and equity, $m
  4,023
  4,111
  4,695
  5,317
  5,978
  6,677
  7,414
  8,186
  8,996
  9,840
  10,721
  11,638
  12,592
  13,584
  14,616
  15,688
  16,802
  17,960
  19,163
  20,414
  21,717
  23,072
  24,483
  25,953
  27,485
  29,083
  30,750
  32,491
  34,307
  36,206
  38,190
Debt-to-equity ratio
  0.712
  0.910
  0.930
  0.940
  0.950
  0.950
  0.960
  0.970
  0.970
  0.980
  0.980
  0.980
  0.990
  0.990
  0.990
  0.990
  0.990
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.000
  1.010
  1.010
  1.010
  1.010
  1.010
  1.010
Adjusted equity ratio
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495
  0.495

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  200
  185
  259
  339
  425
  515
  611
  711
  817
  927
  1,043
  1,163
  1,288
  1,419
  1,555
  1,696
  1,844
  1,997
  2,156
  2,322
  2,495
  2,676
  2,864
  3,060
  3,265
  3,479
  3,703
  3,936
  4,181
  4,437
  4,705
Depreciation, amort., depletion, $m
  163
  188
  215
  243
  273
  305
  339
  374
  411
  450
  490
  532
  575
  621
  668
  717
  768
  821
  876
  933
  992
  1,054
  1,119
  1,186
  1,256
  1,329
  1,405
  1,485
  1,568
  1,654
  1,745
Funds from operations, $m
  327
  373
  474
  582
  698
  820
  950
  1,086
  1,228
  1,377
  1,533
  1,695
  1,864
  2,040
  2,223
  2,413
  2,611
  2,817
  3,032
  3,255
  3,488
  3,730
  3,983
  4,246
  4,521
  4,808
  5,108
  5,421
  5,749
  6,091
  6,450
Change in working capital, $m
  -4
  -69
  -75
  -80
  -85
  -90
  -94
  -99
  -104
  -108
  -113
  -117
  -122
  -127
  -132
  -137
  -143
  -148
  -154
  -160
  -167
  -174
  -181
  -188
  -196
  -205
  -213
  -223
  -233
  -243
  -254
Cash from operations, $m
  331
  442
  549
  662
  783
  910
  1,044
  1,184
  1,332
  1,485
  1,645
  1,812
  1,986
  2,167
  2,355
  2,550
  2,754
  2,966
  3,186
  3,415
  3,654
  3,904
  4,163
  4,434
  4,717
  5,013
  5,321
  5,644
  5,981
  6,334
  6,704
Maintenance CAPEX, $m
  0
  -163
  -188
  -215
  -243
  -273
  -305
  -339
  -374
  -411
  -450
  -490
  -532
  -575
  -621
  -668
  -717
  -768
  -821
  -876
  -933
  -992
  -1,054
  -1,119
  -1,186
  -1,256
  -1,329
  -1,405
  -1,485
  -1,568
  -1,654
New CAPEX, $m
  -84
  -536
  -575
  -615
  -653
  -690
  -727
  -763
  -798
  -834
  -869
  -905
  -942
  -979
  -1,018
  -1,058
  -1,099
  -1,143
  -1,188
  -1,235
  -1,285
  -1,338
  -1,393
  -1,451
  -1,512
  -1,577
  -1,645
  -1,718
  -1,794
  -1,874
  -1,959
Cash from investing activities, $m
  173
  -699
  -763
  -830
  -896
  -963
  -1,032
  -1,102
  -1,172
  -1,245
  -1,319
  -1,395
  -1,474
  -1,554
  -1,639
  -1,726
  -1,816
  -1,911
  -2,009
  -2,111
  -2,218
  -2,330
  -2,447
  -2,570
  -2,698
  -2,833
  -2,974
  -3,123
  -3,279
  -3,442
  -3,613
Free cash flow, $m
  504
  -257
  -215
  -167
  -113
  -53
  12
  83
  159
  240
  326
  417
  512
  612
  716
  825
  938
  1,055
  1,177
  1,304
  1,436
  1,574
  1,716
  1,864
  2,019
  2,179
  2,347
  2,521
  2,703
  2,893
  3,091
Issuance/(repayment) of debt, $m
  7
  275
  294
  314
  334
  353
  372
  390
  408
  427
  445
  463
  482
  501
  521
  541
  563
  585
  608
  632
  658
  684
  713
  742
  774
  807
  842
  879
  918
  959
  1,002
Issuance/(repurchase) of shares, $m
  -19
  85
  29
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -17
  360
  323
  314
  334
  353
  372
  390
  408
  427
  445
  463
  482
  501
  521
  541
  563
  585
  608
  632
  658
  684
  713
  742
  774
  807
  842
  879
  918
  959
  1,002
Total cash flow (excl. dividends), $m
  487
  104
  109
  148
  221
  300
  384
  473
  568
  667
  771
  880
  994
  1,113
  1,237
  1,366
  1,500
  1,640
  1,785
  1,936
  2,094
  2,258
  2,429
  2,607
  2,793
  2,986
  3,189
  3,400
  3,621
  3,851
  4,093
Retained Cash Flow (-), $m
  -39
  -270
  -289
  -308
  -327
  -346
  -364
  -382
  -400
  -418
  -436
  -454
  -472
  -491
  -511
  -531
  -551
  -573
  -596
  -620
  -644
  -671
  -698
  -728
  -758
  -791
  -825
  -861
  -900
  -940
  -982
Prev. year cash balance distribution, $m
 
  457
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  291
  -180
  -161
  -106
  -46
  20
  91
  167
  249
  335
  426
  522
  622
  726
  835
  949
  1,067
  1,189
  1,317
  1,449
  1,587
  1,730
  1,879
  2,034
  2,195
  2,363
  2,539
  2,721
  2,912
  3,111
Discount rate, %
 
  5.90
  6.20
  6.50
  6.83
  7.17
  7.53
  7.91
  8.30
  8.72
  9.15
  9.61
  10.09
  10.60
  11.13
  11.68
  12.27
  12.88
  13.52
  14.20
  14.91
  15.65
  16.44
  17.26
  18.12
  19.03
  19.98
  20.98
  22.03
  23.13
  24.29
PV of cash for distribution, $m
 
  275
  -159
  -133
  -82
  -33
  13
  53
  88
  117
  140
  155
  165
  168
  166
  159
  149
  136
  121
  106
  90
  75
  61
  48
  37
  28
  21
  15
  10
  7
  5
Current shareholders' claim on cash, %
  100
  97.2
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4
  96.4

RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel. Its hotels' brand affiliations include Residence Inn, Courtyard, SpringHill Suites, Fairfield Inn & Suites, Marriott, Renaissance, Hilton Garden Inn, Hampton Inn/Hampton Inn & Suites, Embassy Suites, DoubleTree, Homewood Suites, Hilton, Hyatt House, Hyatt Place and Hyatt/Hyatt Centric. Its operating partnership is RLJ Lodging Trust, L.P. Its properties include Courtyard San Francisco, Courtyard Boulder Longmont, Residence Inn Longmont Boulder, DoubleTree Grand Key Resort, Courtyard Atlanta Buckhead, Courtyard Chicago Southeast Hammond, Courtyard Louisville Northeast, DoubleTree Hotel Columbia and Residence Inn Detroit Novi.

FINANCIAL RATIOS  of  RLJ Lodging Trust (RLJ)

Valuation Ratios
P/E Ratio 13.1
Price to Sales 2.3
Price to Book 1.2
Price to Tangible Book
Price to Cash Flow 7.9
Price to Free Cash Flow 10.6
Growth Rates
Sales Growth Rate 2.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -44%
Cap. Spend. - 3 Yr. Gr. Rate 6.6%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 71.2%
Total Debt to Equity 71.2%
Interest Coverage 4
Management Effectiveness
Return On Assets 6.3%
Ret/ On Assets - 3 Yr. Avg. 6%
Return On Total Capital 5.3%
Ret/ On T. Cap. - 3 Yr. Avg. 4.9%
Return On Equity 9.1%
Return On Equity - 3 Yr. Avg. 8.2%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 42.4%
Gross Margin - 3 Yr. Avg. 42.1%
EBITDA Margin 33%
EBITDA Margin - 3 Yr. Avg. 31.5%
Operating Margin 19%
Oper. Margin - 3 Yr. Avg. 18%
Pre-Tax Margin 14.1%
Pre-Tax Margin - 3 Yr. Avg. 13.3%
Net Profit Margin 17.2%
Net Profit Margin - 3 Yr. Avg. 16.2%
Effective Tax Rate 5.5%
Eff/ Tax Rate - 3 Yr. Avg. -6.5%
Payout Ratio 82.5%

RLJ stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RLJ stock intrinsic value calculation we used $1160 million for the last fiscal year's total revenue generated by RLJ Lodging Trust. The default revenue input number comes from 2016 income statement of RLJ Lodging Trust. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RLJ stock valuation model: a) initial revenue growth rate of 15.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.9%, whose default value for RLJ is calculated based on our internal credit rating of RLJ Lodging Trust, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of RLJ Lodging Trust.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RLJ stock the variable cost ratio is equal to 33.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $567 million in the base year in the intrinsic value calculation for RLJ stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for RLJ Lodging Trust.

Corporate tax rate of 27% is the nominal tax rate for RLJ Lodging Trust. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RLJ stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RLJ are equal to 303.7%.

Life of production assets of 21.6 years is the average useful life of capital assets used in RLJ Lodging Trust operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RLJ is equal to -39.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2222 million for RLJ Lodging Trust - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 178.425 million for RLJ Lodging Trust is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of RLJ Lodging Trust at the current share price and the inputted number of shares is $3.8 billion.

RELATED COMPANIES Price Int.Val. Rating
AHT Ashford Hospit 5.77 20.50  str.buy
H Hyatt Hotels 81.29 18.09  str.sell
MAR Marriott Inter 140.60 476.36  str.buy
HLT Hilton Worldwi 83.38 175.79  str.buy
HPT Hospitality Pr 26.40 4.72  str.sell
CHSP Chesapeake Lod 26.08 4.88  str.sell
HT Hersha Hospita 17.35 4.98  str.sell
INN Summit Hotel P 14.04 9.27  sell

COMPANY NEWS

▶ Activist investor urges data center developer with major Loudoun presence to sell   [Feb-22-18 12:35PM  American City Business Journals]
▶ See the D.C.-area stocks hit hardest in the last week   [Feb-06-18 10:22AM  American City Business Journals]
▶ Billboards to Hotels: The Right REITs for Growth & Income   [Feb-05-18 05:59AM  Investopedia]
▶ Forest City in takeover talks with Brookfield   [Feb-01-18 11:15AM  American City Business Journals]
▶ RLJ Lodging Trust to Host Earnings Call   [08:10AM  ACCESSWIRE]
▶ RLJ Lodging reports 3Q results   [05:02AM  Associated Press]
▶ RLJ Lodging Trust Reports Third Quarter 2017 Results   [Nov-08-17 05:57PM  Business Wire]
▶ RLJ Lodging Trust Provides Hurricane Update   [Sep-13-17 09:15AM  Business Wire]
▶ Forest City to weigh sale, merger to 'enhance shareholder value'   [07:15AM  American City Business Journals]
▶ RLJ closes on its purchase of FelCor   [Sep-01-17 12:25PM  American City Business Journals]
▶ Vinoy owner votes to merge with another REIT   [Aug-16-17 01:10PM  American City Business Journals]
▶ RLJ Shareholders and FelCor Stockholders Approve Merger   [Aug-15-17 08:37PM  Business Wire]
▶ [$$] Bad Reviews Threaten RLJs Proposed Hotel Deal   [Aug-09-17 12:48AM  The Wall Street Journal]
▶ [$$] Bad Reviews Threaten RLJ's Proposed Hotel Deal   [Aug-08-17 07:43AM  The Wall Street Journal]
▶ RLJ Lodging reports 2Q results   [Aug-05-17 01:14AM  Associated Press]
▶ RLJ Lodging Trust Reports Second Quarter 2017 Results   [Aug-03-17 05:50PM  Business Wire]
▶ [$$] Blackstone Made Bid to Buy Hotel Investor RLJ Lodging Trust   [Jul-21-17 12:48AM  The Wall Street Journal]
▶ [$$] Blackstone Made Bid to Buy Hotel Investor RLJ Lodging Trust   [Jul-20-17 07:26PM  The Wall Street Journal]
▶ This Is Why Dividend-Rich Hotel REITs Flew Today   [04:18PM  Investor's Business Daily]
▶ RLJ Lodging reports 1Q results   [May-08-17 06:18PM  Associated Press]
▶ FelCor merging with Maryland hotel investment company in $1.18B deal   [02:40PM  American City Business Journals]
▶ RLJ Lodging Trust finds a merger partner, will become a $7B company   [11:17AM  American City Business Journals]
Financial statements of RLJ
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.