RLJ Lodging Trust (NYSE:RLJ) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

RLJ Lodging Trust (NYSE:RLJ) posted its quarterly earnings data on Wednesday. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03, FiscalAI reports. RLJ Lodging Trust had a net margin of 2.55% and a return on equity of 1.99%. The company had revenue of $354.48 million for the quarter, compared to the consensus estimate of $343.24 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue was up 7.4% compared to the same quarter last year.

RLJ Lodging Trust Price Performance

RLJ traded up $0.09 during midday trading on Friday, reaching $12.49. 1,106,093 shares of the company’s stock were exchanged, compared to its average volume of 2,015,819. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 208.28, a price-to-earnings-growth ratio of 2.18 and a beta of 1.14. The company has a quick ratio of 5.71, a current ratio of 5.71 and a debt-to-equity ratio of 1.50. RLJ Lodging Trust has a one year low of $6.75 and a one year high of $12.94. The business has a 50-day simple moving average of $11.45 and a two-hundred day simple moving average of $9.97.

RLJ Lodging Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.60 dividend on an annualized basis and a yield of 4.8%. RLJ Lodging Trust’s dividend payout ratio (DPR) is currently 1,000.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RLJ. Raymond James Financial lowered RLJ Lodging Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, September 28th. Bank of America raised their price objective on RLJ Lodging Trust from $9.25 to $10.50 and gave the stock an “underperform” rating in a research report on Monday, July 20th. Wells Fargo & Company raised their price objective on RLJ Lodging Trust from $9.00 to $11.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Truist Financial boosted their price objective on RLJ Lodging Trust from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Monday, September 21st. Finally, Barclays upped their target price on RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.81.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust (NYSE:RLJ) is a self-advised real estate investment trust that owns a portfolio of premium-branded, focused-service and compact full-service hotels. The company’s properties primarily operate under brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels, among other major lodging companies.

RLJ’s hotels are generally located in urban and densely populated areas, including major business and leisure markets across the United States. The properties provide guest accommodations and related hospitality services, while independent hotel management companies typically oversee day-to-day operations.

The company was formed in 2011 and is named after Robert L.