RLJ Lodging Trust (NYSE:RLJ) Announces $0.15 Quarterly Dividend

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) declared a quarterly dividend on Friday, March 14th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.15 per share by the real estate investment trust on Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date of this dividend is Monday, March 31st.

RLJ Lodging Trust has increased its dividend by an average of 307.9% per year over the last three years. RLJ Lodging Trust has a dividend payout ratio of 305.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect RLJ Lodging Trust to earn $1.42 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 40.8%.

RLJ Lodging Trust Stock Performance

Shares of RLJ Lodging Trust stock traded down $0.13 on Tuesday, reaching $8.83. 2,838,805 shares of the stock were exchanged, compared to its average volume of 1,467,211. RLJ Lodging Trust has a 1-year low of $8.46 and a 1-year high of $12.13. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.14. The business has a fifty day moving average price of $9.56 and a two-hundred day moving average price of $9.62. The firm has a market capitalization of $1.34 billion, a PE ratio of 30.44, a PEG ratio of 2.87 and a beta of 1.69.

Remove Ads

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.36. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The business had revenue of $329.99 million for the quarter, compared to analyst estimates of $324.66 million. As a group, research analysts anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RLJ. Wells Fargo & Company dropped their price target on shares of RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating on the stock in a research note on Tuesday, February 18th. StockNews.com raised shares of RLJ Lodging Trust from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, RLJ Lodging Trust has an average rating of "Hold" and a consensus price target of $10.79.

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.