RLJ Lodging Trust (NYSE:rlj) announced a quarterly dividend on Thursday, September 15th. Stockholders of record on Friday, September 30th will be given a dividend of 0.33 per share by the real estate investment trust on Friday, October 14th. This represents a $1.32 annualized dividend and a dividend yield of 6.11%. The ex-dividend date is Wednesday, September 28th.
Shares of RLJ Lodging Trust (NYSE:RLJ) opened at 21.62 on Tuesday. RLJ Lodging Trust has a 12-month low of $16.15 and a 12-month high of $27.52. The company has a market capitalization of $2.68 billion, a PE ratio of 13.73 and a beta of 1.05. The stock’s 50 day moving average price is $22.69 and its 200 day moving average price is $22.07.
RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.36. The company earned $317.11 million during the quarter, compared to the consensus estimate of $318.47 million. RLJ Lodging Trust had a return on equity of 9.11% and a net margin of 17.13%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 EPS. On average, equities research analysts forecast that RLJ Lodging Trust will post $1.27 earnings per share for the current year.
Several research analysts have recently weighed in on the company. Janney Montgomery Scott assumed coverage on RLJ Lodging Trust in a research note on Monday. They set a “buy” rating and a $21.90 price target for the company. Zacks Investment Research cut RLJ Lodging Trust from a “buy” rating to a “sell” rating in a report on Thursday, August 11th. Robert W. Baird cut RLJ Lodging Trust from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $24.00 in a report on Monday, August 8th. TheStreet cut RLJ Lodging Trust from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Finally, Barclays PLC dropped their price objective on RLJ Lodging Trust from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Friday, August 5th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. RLJ Lodging Trust currently has a consensus rating of “Hold” and an average target price of $25.26.
In other RLJ Lodging Trust news, CFO Leslie D. Hale sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $23.62, for a total value of $236,200.00. Following the sale, the chief financial officer now owns 283,636 shares of the company’s stock, valued at approximately $6,699,482.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.40% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in shares of RLJ Lodging Trust during the second quarter worth $348,000. AQR Capital Management LLC boosted its position in shares of RLJ Lodging Trust by 33.7% in the second quarter. AQR Capital Management LLC now owns 206,891 shares of the real estate investment trust’s stock worth $4,438,000 after buying an additional 52,191 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of RLJ Lodging Trust by 1,808.7% in the second quarter. Panagora Asset Management Inc. now owns 120,097 shares of the real estate investment trust’s stock worth $2,576,000 after buying an additional 113,805 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of RLJ Lodging Trust by 85.5% in the second quarter. Parametric Portfolio Associates LLC now owns 107,625 shares of the real estate investment trust’s stock worth $2,309,000 after buying an additional 49,608 shares in the last quarter. Finally, Menta Capital LLC purchased a new position in shares of RLJ Lodging Trust during the second quarter worth $285,000.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. The Company owns approximately 130 hotels with over 20,900 rooms, located in approximately 20 states and the District of Columbia, and an interest in a mortgage loan secured by a hotel.
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