RLJ Lodging Trust (NYSE:RLJ) Announces Earnings Results

RLJ Lodging Trust (NYSE:RLJ) released its earnings results on Wednesday. The real estate investment trust reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03, FiscalAI reports. The company had revenue of $354.48 million for the quarter, compared to the consensus estimate of $343.24 million. RLJ Lodging Trust had a return on equity of 1.52% and a net margin of 2.00%. RLJ Lodging Trust’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS.

RLJ Lodging Trust Stock Up 1.1%

RLJ Lodging Trust stock opened at $12.73 on Thursday. The company has a 50-day simple moving average of $11.43 and a 200-day simple moving average of $9.95. The firm has a market capitalization of $1.94 billion, a P/E ratio of 8.74, a P/E/G ratio of 2.15 and a beta of 1.14. The company has a debt-to-equity ratio of 1.50, a quick ratio of 5.71 and a current ratio of 5.71. RLJ Lodging Trust has a one year low of $6.70 and a one year high of $12.94.

RLJ Lodging Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.60 annualized dividend and a dividend yield of 4.7%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RLJ shares. Truist Financial raised their price target on shares of RLJ Lodging Trust from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Monday, September 21st. Wells Fargo & Company boosted their price objective on shares of RLJ Lodging Trust from $9.00 to $11.00 and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Raymond James Financial cut shares of RLJ Lodging Trust from an “outperform” rating to a “market perform” rating in a report on Monday, September 28th. Bank of America lifted their target price on RLJ Lodging Trust from $9.25 to $10.50 and gave the company an “underperform” rating in a research note on Monday, July 20th. Finally, Weiss Ratings raised RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, RLJ Lodging Trust presently has an average rating of “Hold” and an average target price of $11.81.

About RLJ Lodging Trust

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.