RLJ Lodging Trust (RLJ) to Issue Quarterly Dividend of $0.10 on July 15th

RLJ Lodging Trust (NYSE:RLJ) announced a quarterly dividend on Friday, June 14th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.10 per share by the real estate investment trust on Monday, July 15th. This represents a $0.40 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Friday, June 28th.

RLJ Lodging Trust has a payout ratio of 153.8% 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 $1.52 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 26.3%.

RLJ Lodging Trust Stock Performance

Shares of RLJ stock opened at $9.57 on Friday. The firm has a 50-day moving average of $10.56 and a 200-day moving average of $11.27. The company has a market cap of $1.49 billion, a P/E ratio of 34.18, a P/E/G ratio of 0.85 and a beta of 1.69. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.81 and a quick ratio of 2.81. RLJ Lodging Trust has a one year low of $9.06 and a one year high of $12.39.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Oppenheimer raised their price objective on shares of RLJ Lodging Trust from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Robert W. Baird decreased their price objective on shares of RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Tuesday, June 11th. One analyst has 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.58.

RLJ Lodging Trust Company Profile

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.