RLJ Lodging Trust (NYSE:RLJ) Posts Earnings Results, Beats Expectations By $0.38 EPS

by · The Markets Daily

RLJ Lodging Trust (NYSE:RLJ – Get Free Report) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.38, Zacks reports. The firm had revenue of $354.48 million during the quarter, compared to analysts’ expectations of $343.24 million. RLJ Lodging Trust had a return on equity of 1.52% and a net margin of 2.00%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS.

RLJ Lodging Trust Stock Performance

RLJ stock traded up $0.14 during midday trading on Wednesday, hitting $12.73. 2,812,712 shares of the stock traded hands, compared to its average volume of 1,931,222. RLJ Lodging Trust has a 1-year low of $6.70 and a 1-year high of $12.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 5.71 and a quick ratio of 5.71. The stock’s fifty day simple moving average is $11.43 and its 200-day simple moving average is $9.95. The firm has a market cap of $1.94 billion, a P/E ratio of 8.74, a PEG ratio of 2.15 and a beta of 1.14.

RLJ Lodging Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.7%. The ex-dividend date was Wednesday, September 30th.

Analysts Set New Price Targets

RLJ has been the topic of a number of research reports. Bank of America increased their price objective on shares of RLJ Lodging Trust from $9.25 to $10.50 and gave the stock an “underperform” rating in a research note on Monday, July 20th. LADENBURG THALM/SH SH upped their price target on shares of RLJ Lodging Trust from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Truist Financial increased their price target on RLJ Lodging Trust from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Monday, September 21st. Wells Fargo & Company lifted their price objective on RLJ Lodging Trust from $9.00 to $11.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings raised RLJ Lodging Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.81.

Read Our Latest Stock Analysis on RLJ Lodging Trust

RLJ Lodging Trust Company Profile

(Get Free Report)

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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