RLJ Lodging Trust (NYSE:RLJ – Get Free Report) released its earnings results on Wednesday. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.38, Zacks reports. The company had revenue of $354.48 million during the quarter, compared to analysts’ expectations of $343.24 million. RLJ Lodging Trust had a net margin of 2.00% and a return on equity of 1.52%. RLJ Lodging Trust’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS.
RLJ Lodging Trust Stock Performance
NYSE RLJ traded up $0.14 on Wednesday, reaching $12.73. 2,812,712 shares of the company’s stock traded hands, compared to its average volume of 1,931,222. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 2.15 and a beta of 1.14. The stock has a 50 day moving average price of $11.43 and a 200-day moving average price of $9.95. RLJ Lodging Trust has a fifty-two week low of $6.70 and a fifty-two week high of $12.94. 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 Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Wednesday, September 30th.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on RLJ shares. Bank of America upped their price target on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the company an “underperform” rating in a research note on Monday, July 20th. Zacks Research raised RLJ Lodging Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 29th. LADENBURG THALM/SH SH upped their target price on RLJ Lodging Trust from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Truist Financial raised their target price on RLJ Lodging Trust from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Monday, September 21st. Finally, Weiss Ratings raised RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.81.
Read Our Latest Research Report on RLJ
RLJ Lodging Trust Company Profile
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.
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