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

RLJ Lodging Trust (NYSE:RLJ) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.450-1.580 for the period, compared to the consensus estimate of 1.510. The company issued revenue guidance of -. RLJ Lodging Trust also updated its FY24 guidance to $1.45-$1.58 EPS.

RLJ Lodging Trust Price Performance

RLJ Lodging Trust stock traded up $0.23 during trading on Friday, reaching $9.72. The company had a trading volume of 2,443,134 shares, compared to its average volume of 1,403,553. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.60 and a current ratio of 2.60. The firm’s 50-day simple moving average is $9.23 and its 200 day simple moving average is $9.58. The firm has a market capitalization of $1.51 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 0.89 and a beta of 1.70. RLJ Lodging Trust has a 1-year low of $8.74 and a 1-year high of $12.39.

Analysts Set New Price Targets

A number of research firms recently issued reports on RLJ. StockNews.com lowered RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Company downgraded RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $11.00 to $9.00 in a research note on Friday, September 13th. Bank of America reduced their target price on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, July 22nd. Compass Point lowered RLJ Lodging Trust from a “buy” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $10.00 in a research note on Monday, August 5th. Finally, Truist Financial dropped their price target on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.71.

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.