RLJ Lodging Trust (NYSE:RLJ) Releases FY 2024 Earnings Guidance

RLJ Lodging Trust (NYSE:RLJ) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.450-1.580 for the period, compared to the consensus earnings per share estimate of 1.600. The company issued revenue guidance of -. RLJ Lodging Trust also updated its FY24 guidance to $1.45-1.58 EPS.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Bank of America decreased their price objective on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an underperform rating for the company in a research note on Monday, July 22nd. StockNews.com downgraded RLJ Lodging Trust from a hold rating to a sell rating in a research note on Thursday, May 23rd. Finally, 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $13.07.

RLJ Lodging Trust Stock Performance

Shares of NYSE:RLJ traded down $0.03 during midday trading on Friday, hitting $9.22. The 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 current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average price of $9.62 and a two-hundred day moving average price of $10.80. The company has a market capitalization of $1.44 billion, a PE ratio of 32.93, a P/E/G ratio of 0.83 and a beta of 1.70.

RLJ Lodging Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from RLJ Lodging Trust’s previous quarterly dividend of $0.10. RLJ Lodging Trust’s payout ratio is currently 142.86%.

About RLJ Lodging Trust

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.