RLJ Lodging Trust (RLJ) to Issue Quarterly Dividend of $0.15 on October 15th

RLJ Lodging Trust (NYSE:RLJ) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.15 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.60 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Monday, September 30th. This is a positive change from RLJ Lodging Trust’s previous quarterly dividend of $0.10.

RLJ Lodging Trust has a payout ratio of 153.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect RLJ Lodging Trust to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 26.7%.

RLJ Lodging Trust Trading Down 0.3 %

Shares of NYSE RLJ traded down $0.03 during trading hours on Friday, hitting $9.22. 3,422,351 shares of the company traded hands, compared to its average volume of 1,457,511. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 0.83 and a beta of 1.70. 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 company’s 50 day moving average price is $9.62 and its 200 day moving average price is $10.81. RLJ Lodging Trust has a 12 month low of $8.84 and a 12 month high of $12.39.

Analyst Ratings Changes

RLJ has been the topic of several analyst reports. StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Robert W. Baird cut their target price on RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. Finally, Bank of America cut their target price on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating on the stock in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.07.

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.