RLJ Lodging Trust (NYSE:RLJ – Get Free Report) announced a quarterly dividend on Monday, June 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.15 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Tuesday, June 30th.
RLJ Lodging Trust has increased its dividend payment by an average of 0.7%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. RLJ Lodging Trust has a dividend payout ratio of 600.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect RLJ Lodging Trust to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 47.6%.
RLJ Lodging Trust Stock Performance
Shares of RLJ stock traded up $0.04 during trading hours on Monday, reaching $11.06. The company had a trading volume of 1,348,214 shares, compared to its average volume of 2,129,988. The company has a debt-to-equity ratio of 1.22, a quick ratio of 2.89 and a current ratio of 2.89. The business has a fifty day moving average price of $8.94 and a 200-day moving average price of $8.15. RLJ Lodging Trust has a one year low of $6.54 and a one year high of $11.16. The firm has a market cap of $1.68 billion, a PE ratio of -1,105.50 and a beta of 1.13.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of RLJ. Amundi grew its position in shares of RLJ Lodging Trust by 11.1% during the 1st quarter. Amundi now owns 84,756 shares of the real estate investment trust’s stock valued at $629,000 after acquiring an additional 8,468 shares during the period. Quantinno Capital Management LP raised its holdings in RLJ Lodging Trust by 123.0% in the 1st quarter. Quantinno Capital Management LP now owns 128,442 shares of the real estate investment trust’s stock worth $953,000 after purchasing an additional 70,834 shares during the period. Renaissance Technologies LLC raised its holdings in RLJ Lodging Trust by 2,111.3% in the 1st quarter. Renaissance Technologies LLC now owns 299,232 shares of the real estate investment trust’s stock worth $2,220,000 after purchasing an additional 285,700 shares during the period. Sei Investments Co. lifted its position in RLJ Lodging Trust by 122.5% during the first quarter. Sei Investments Co. now owns 251,168 shares of the real estate investment trust’s stock valued at $1,864,000 after purchasing an additional 138,259 shares in the last quarter. Finally, State of Wyoming lifted its position in RLJ Lodging Trust by 12.3% during the first quarter. State of Wyoming now owns 17,904 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 1,963 shares in the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.
About RLJ Lodging Trust
RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company’s portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.
The trust’s hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.
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