RLJ Lodging Trust (RLJ) Scheduled to Post Earnings on Wednesday

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) will post its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect RLJ Lodging Trust to post earnings of $0.37 per share for the quarter. RLJ Lodging Trust has set its FY24 guidance at $1.45-1.58 EPS and its FY 2024 guidance at 1.450-1.580 EPS.Parties that are interested in registering for the company's conference call can do so using this link.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.25). RLJ Lodging Trust had a return on equity of 3.34% and a net margin of 4.93%. The company had revenue of $369.30 million during the quarter, compared to analyst estimates of $365.67 million. During the same quarter in the previous year, the business posted $0.56 earnings per share. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts expect RLJ Lodging Trust to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

RLJ Lodging Trust Stock Up 0.3 %

Shares of NYSE RLJ traded up $0.03 during trading on Wednesday, hitting $9.09. 1,772,437 shares of the company traded hands, compared to its average volume of 1,376,957. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.60 and a current ratio of 2.60. The business's fifty day moving average is $9.28 and its 200 day moving average is $9.69. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 0.86 and a beta of 1.69. RLJ Lodging Trust has a fifty-two week low of $8.79 and a fifty-two week high of $12.39.

RLJ Lodging Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.15 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.60 annualized dividend and a yield of 6.60%. This is a positive change from RLJ Lodging Trust's previous quarterly dividend of $0.10. RLJ Lodging Trust's dividend payout ratio is presently 230.78%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RLJ shares. Wells Fargo & Company lowered RLJ Lodging Trust from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $11.00 to $9.00 in a research report on Friday, September 13th. Compass Point lowered shares of RLJ Lodging Trust from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $18.00 to $10.00 in a research note on Monday, August 5th. Bank of America lowered their target price on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an "underperform" rating on the stock in a 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 Monday. Finally, Truist Financial lowered their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a "buy" rating for the company in a research note on Monday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $11.71.

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.