RLJ Lodging Trust (NYSE:RLJ) Issues FY24 Earnings Guidance

RLJ Lodging Trust (NYSE:RLJ) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.45-1.58 for the period, compared to the consensus EPS estimate of $1.60. RLJ Lodging Trust also updated its FY 2024 guidance to 1.450-1.580 EPS.

Wall Street Analyst Weigh In

Several research firms recently commented on RLJ. Bank of America cut their price objective on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an underperform rating on the stock in a research report on Monday, July 22nd. StockNews.com cut shares of RLJ Lodging Trust from a hold rating to a sell rating in a research report on Thursday, May 23rd. Finally, Robert W. Baird decreased their price objective on RLJ Lodging Trust from $13.00 to $12.00 and set an outperform rating for the company in a report on Tuesday, June 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $13.07.

RLJ Lodging Trust Stock Performance

NYSE:RLJ traded down $0.03 on Friday, hitting $9.22. The company’s stock had a trading volume of 3,422,351 shares, compared to its average volume of 1,457,511. RLJ Lodging Trust has a one year low of $8.84 and a one year high of $12.39. The firm has a market capitalization of $1.44 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 0.83 and a beta of 1.70. The stock has a fifty day moving average of $9.62 and a two-hundred day moving average of $10.80. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 1.13.

RLJ Lodging Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from RLJ Lodging Trust’s previous quarterly dividend of $0.10. RLJ Lodging Trust’s dividend payout ratio is 142.86%.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.