RLJ Lodging Trust (NYSE:RLJ) Releases FY 2024 Earnings Guidance

RLJ Lodging Trust (NYSE:RLJ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.450-1.580 for the period, compared to the consensus estimate of 1.600. The company issued revenue guidance of -. RLJ Lodging Trust also updated its FY24 guidance to $1.45-1.58 EPS.

RLJ Lodging Trust Stock Down 0.3 %

RLJ stock traded down $0.03 during midday trading on Friday, hitting $9.22. The company’s stock had a trading volume of 3,422,351 shares, compared to its average volume of 1,457,511. The firm’s 50-day moving average is $9.62 and its 200-day moving average is $10.80. The company has a market cap of $1.44 billion, a PE ratio of 32.93, a P/E/G 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. RLJ Lodging Trust has a 12 month low of $8.84 and a 12 month high of $12.39.

RLJ Lodging Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.51%. This is a boost from RLJ Lodging Trust’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, September 30th. RLJ Lodging Trust’s dividend payout ratio is presently 142.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com cut RLJ Lodging Trust from a hold rating to a sell rating in a report on Thursday, May 23rd. Robert W. Baird lowered 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 lowered 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 research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price 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.