RLJ Lodging Trust (NYSE:RLJ) Updates FY24 Earnings Guidance

RLJ Lodging Trust (NYSE:RLJ) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.45-1.58 for the period, compared to the consensus earnings per share estimate of $1.60. RLJ Lodging Trust also updated its FY 2024 guidance to 1.450-1.580 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Robert W. Baird reduced their price objective on RLJ Lodging Trust from $13.00 to $12.00 and set an outperform rating for the company in a research note on Tuesday, June 11th. StockNews.com cut RLJ Lodging Trust from a hold rating to a sell rating in a research note on Thursday, May 23rd. Finally, Bank of America dropped their target price on RLJ Lodging Trust from $12.00 to $10.00 and set an underperform rating on the stock in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, RLJ Lodging Trust has a consensus rating of Hold and an average price target of $13.07.

RLJ Lodging Trust Stock Performance

RLJ stock traded down $0.03 during midday trading on Friday, hitting $9.22. The company’s stock had a trading volume of 3,422,351 shares, compared to its average volume of 1,457,511. RLJ Lodging Trust has a 1 year low of $8.84 and a 1 year high of $12.39. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 1.13. The stock’s 50-day moving average price is $9.62 and its 200 day moving average price is $10.80. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 0.83 and a beta of 1.70.

RLJ Lodging Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date is Monday, September 30th. This is a boost from RLJ Lodging Trust’s previous quarterly dividend of $0.10. RLJ Lodging Trust’s dividend payout ratio is currently 142.86%.

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.