Zacks: Analysts Anticipate RLJ Lodging Trust (RLJ) Will Post Earnings of $0.61 Per Share
Brokerages predict that RLJ Lodging Trust (NYSE:RLJ) will announce earnings per share (EPS) of $0.61 for the current quarter, Zacks reports. Four analysts have made estimates for RLJ Lodging Trust’s earnings, with estimates ranging from $0.60 to $0.62. RLJ Lodging Trust reported earnings per share of $0.33 in the same quarter last year, which suggests a positive year-over-year growth rate of 84.8%. The firm is expected to announce its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that RLJ Lodging Trust will report full year earnings of $2.36 per share for the current fiscal year, with EPS estimates ranging from $2.31 to $2.46. For the next year, analysts anticipate that the business will post earnings of $2.50 per share, with EPS estimates ranging from $2.34 to $2.62. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover RLJ Lodging Trust.
RLJ Lodging Trust (NYSE:RLJ) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share 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 company had revenue of $292.28 million during the quarter, compared to the consensus estimate of $293.16 million. During the same quarter last year, the firm earned $0.82 earnings per share. The company’s revenue was down 7.8% on a year-over-year basis.
Several research firms have recently weighed in on RLJ. Barclays PLC began coverage on RLJ Lodging Trust in a research note on Friday. They set an “equal weight” rating and a $24.00 price target for the company. ValuEngine upgraded RLJ Lodging Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Robert W. Baird reiterated a “hold” rating and set a $23.00 price target on shares of RLJ Lodging Trust in a research note on Thursday, September 21st. Deutsche Bank AG began coverage on RLJ Lodging Trust in a research note on Tuesday, September 19th. They set a “hold” rating and a $22.00 price target for the company. Finally, Canaccord Genuity upgraded RLJ Lodging Trust from a “hold” rating to a “buy” rating and increased their price target for the stock from $21.00 to $23.00 in a research note on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $24.18.
RLJ Lodging Trust (NYSE:RLJ) traded down 0.27% during midday trading on Thursday, hitting $21.96. The stock had a trading volume of 1,334,333 shares. RLJ Lodging Trust has a 52 week low of $18.92 and a 52 week high of $25.10. The stock has a market cap of $3.84 billion, a P/E ratio of 15.14 and a beta of 1.17. The company has a 50-day moving average price of $21.06 and a 200-day moving average price of $21.16.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, August 28th. This represents a $0.88 annualized dividend and a yield of 4.01%. RLJ Lodging Trust’s dividend payout ratio is currently 30.34%.
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In other RLJ Lodging Trust news, Director Nathaniel A. Davis sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $20.11, for a total value of $201,100.00. Following the completion of the transaction, the director now owns 72,928 shares in the company, valued at approximately $1,466,582.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Forgia Robert M. La bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average price of $19.73 per share, with a total value of $98,650.00. Following the purchase, the director now owns 37,528 shares in the company, valued at $740,427.44. The disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in shares of RLJ Lodging Trust by 8.0% in the 1st quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock valued at $196,000 after acquiring an additional 615 shares in the last quarter. Paragon Capital Management Ltd purchased a new stake in shares of RLJ Lodging Trust in the 2nd quarter valued at about $208,000. New York State Teachers Retirement System raised its holdings in shares of RLJ Lodging Trust by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 10,800 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 100 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of RLJ Lodging Trust in the 2nd quarter valued at about $214,000. Finally, Denver Investment Advisors LLC raised its holdings in shares of RLJ Lodging Trust by 0.9% in the 2nd quarter. Denver Investment Advisors LLC now owns 11,000 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 100 shares in the last quarter.
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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