RLJ Lodging Trust (RLJ) Expected to Post Quarterly Sales of $441.79 Million
Brokerages expect that RLJ Lodging Trust (NYSE:RLJ) will post sales of $441.79 million for the current quarter, Zacks reports. Seven analysts have provided estimates for RLJ Lodging Trust’s earnings, with estimates ranging from $398.99 million to $452.26 million. RLJ Lodging Trust posted sales of $271.45 million during the same quarter last year, which suggests a positive year over year growth rate of 62.8%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, February 27th.
According to Zacks, analysts expect that RLJ Lodging Trust will report full year sales of $441.79 million for the current financial year, with estimates ranging from $1.29 billion to $1.35 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.86 billion per share, with estimates ranging from $1.74 billion to $1.90 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover RLJ Lodging Trust.
RLJ Lodging Trust (NYSE:RLJ) last released its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. RLJ Lodging Trust had a return on equity of 5.80% and a net margin of 12.30%. The company had revenue of $341.26 million during the quarter, compared to analyst estimates of $347.74 million. During the same quarter in the previous year, the company posted $0.69 EPS. RLJ Lodging Trust’s revenue for the quarter was up 15.2% on a year-over-year basis.
Shares of RLJ Lodging Trust (NYSE:RLJ) opened at $21.70 on Friday. RLJ Lodging Trust has a 52 week low of $19.12 and a 52 week high of $23.98. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $4,000.00, a PE ratio of 28.55, a PEG ratio of 1.73 and a beta of 1.10.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were given a dividend of $0.33 per share. This is a positive change from RLJ Lodging Trust’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, December 28th. This represents a $1.32 dividend on an annualized basis and a yield of 6.08%. RLJ Lodging Trust’s dividend payout ratio is presently 173.68%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH raised its position in RLJ Lodging Trust by 111.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 628,717 shares of the real estate investment trust’s stock valued at $13,833,000 after purchasing an additional 330,962 shares during the last quarter. State Street Corp raised its position in RLJ Lodging Trust by 2.4% during the 2nd quarter. State Street Corp now owns 4,831,260 shares of the real estate investment trust’s stock valued at $96,267,000 after purchasing an additional 111,681 shares during the last quarter. Palisade Capital Management LLC NJ raised its position in RLJ Lodging Trust by 17.1% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 668,960 shares of the real estate investment trust’s stock valued at $14,717,000 after purchasing an additional 97,793 shares during the last quarter. American International Group Inc. raised its position in RLJ Lodging Trust by 49.1% during the 3rd quarter. American International Group Inc. now owns 113,796 shares of the real estate investment trust’s stock valued at $2,504,000 after purchasing an additional 37,459 shares during the last quarter. Finally, Cedar Capital LLC bought a new position in RLJ Lodging Trust during the 3rd quarter valued at approximately $2,794,000. 95.28% of the stock is owned by institutional investors and hedge funds.
About RLJ Lodging Trust
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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