Analysts Anticipate RLJ Lodging Trust (RLJ) Will Post Quarterly Sales of $280.85 Million
Equities analysts expect RLJ Lodging Trust (NYSE:RLJ) to announce sales of $280.85 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for RLJ Lodging Trust’s earnings. The highest sales estimate is $290.19 million and the lowest is $275.00 million. RLJ Lodging Trust reported sales of $296.26 million during the same quarter last year, which indicates a negative year over year growth rate of 5.2%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that RLJ Lodging Trust will report full year sales of $280.85 million for the current fiscal year. For the next financial year, analysts forecast that the business will post sales of $1.11 billion per share, with estimates ranging from $1.10 billion to $1.12 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow RLJ Lodging Trust.
RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. The business had revenue of $292.28 million during the quarter, compared to analysts’ expectations of $293.16 million. During the same period in the prior year, the firm posted $0.82 EPS. RLJ Lodging Trust’s quarterly revenue was down 7.8% compared to the same quarter last year.
RLJ has been the subject of a number of analyst reports. Janney Montgomery Scott reiterated a “buy” rating and issued a $28.00 price target (up from $26.00) on shares of RLJ Lodging Trust in a research report on Monday, June 5th. BidaskClub downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada restated a “buy” rating and set a $25.00 price objective on shares of RLJ Lodging Trust in a research report on Friday, August 4th. Boenning Scattergood set a $20.00 price objective on shares of RLJ Lodging Trust and gave the company a “sell” rating in a research report on Monday, August 7th. Finally, ValuEngine upgraded shares of RLJ Lodging Trust from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 20th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.71.
Several hedge funds have recently bought and sold shares of RLJ. BlackRock Inc. boosted its stake in RLJ Lodging Trust by 4,829.7% in the first quarter. BlackRock Inc. now owns 11,399,528 shares of the real estate investment trust’s stock worth $268,005,000 after buying an additional 11,168,284 shares during the last quarter. AJO LP boosted its stake in shares of RLJ Lodging Trust by 108.8% in the second quarter. AJO LP now owns 3,814,317 shares of the real estate investment trust’s stock valued at $75,790,000 after buying an additional 1,987,760 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of RLJ Lodging Trust by 2,706.7% in the second quarter. Citadel Advisors LLC now owns 1,314,146 shares of the real estate investment trust’s stock valued at $26,112,000 after buying an additional 1,267,324 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of RLJ Lodging Trust by 51.5% in the first quarter. Bank of New York Mellon Corp now owns 2,944,846 shares of the real estate investment trust’s stock valued at $69,233,000 after buying an additional 1,001,632 shares in the last quarter. Finally, AEW Capital Management L P boosted its stake in shares of RLJ Lodging Trust by 45.9% in the first quarter. AEW Capital Management L P now owns 2,189,162 shares of the real estate investment trust’s stock valued at $51,467,000 after buying an additional 688,800 shares in the last quarter. 99.94% of the stock is currently owned by hedge funds and other institutional investors.
RLJ Lodging Trust (RLJ) opened at 19.89 on Friday. The stock has a 50 day moving average price of $20.39 and a 200-day moving average price of $21.79. RLJ Lodging Trust has a one year low of $18.92 and a one year high of $25.10. The firm has a market capitalization of $2.46 billion, a PE ratio of 13.72 and a beta of 1.16.
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.64%. RLJ Lodging Trust’s payout ratio is presently 91.03%.
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RLJ Lodging Trust Company Profile
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.
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