RLJ Lodging Trust (NYSE:RLJ) Releases FY24 Earnings Guidance

RLJ Lodging Trust (NYSE:RLJ) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.45-1.58 for the period, compared to the consensus earnings per share estimate of $1.60.

RLJ Lodging Trust Price Performance

Shares of NYSE:RLJ traded down $0.19 on Thursday, reaching $9.25. 1,519,171 shares of the company were exchanged, compared to its average volume of 1,305,306. The company has a 50-day moving average of $9.65 and a 200-day moving average of $10.83. 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 firm has a market cap of $1.44 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 0.86 and a beta of 1.70. RLJ Lodging Trust has a 1-year low of $9.06 and a 1-year high of $12.39.

RLJ Lodging Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.40 annualized dividend and a yield of 4.32%. RLJ Lodging Trust’s payout ratio is currently 142.86%.

Analyst Upgrades and Downgrades

RLJ has been the subject of a number of research reports. Bank of America reduced their price target on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an underperform rating for the company in a research report on Monday, July 22nd. Robert W. Baird decreased 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, StockNews.com downgraded RLJ Lodging Trust from a hold rating to a sell rating in a research note on Thursday, May 23rd. Two investment 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. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus 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.