MLV & Co Believes Guidance Might Be Enough for RLJ Lodging Trust

In a report published Thursday, MLV & Co analyst Ryan Meliker reiterated a Buy rating and $39.00 price target on RLJ Lodging Trust (NYSE: RLJ).In the report, MLV & Co noted, "Given the recently lowered expectations for RLJ, with the stock down 5.4% YTD on concerns surrounding heavy exposure to NYC and energy-focused markets, we think this print may be enough to get the stock moving in the right direction. RLJ produced a solid 4Q print, which featured FFO and EBITDA results that met consensus expectations. Fundamentals in the quarter remained relatively robust, and the company continues to generate solid margin expansion that falls in-line with our expectations. With that being said, FY 2015 EBITDA guidance came in about $4M light relative to consensus after adjusting for corporate expenses and removing the EBITDA related to the recently announced portfolio disposition, but given what we believe are lower buy-side expectations, we think guidance is good enough."RLJ Lodging Trust closed on Wednesday at $31.72.