RLJ Lodging Trust (NYSE:RLJ) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

RLJ Lodging Trust (NYSE:RLJ) announced its quarterly earnings results on Wednesday. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03, FiscalAI reports. RLJ Lodging Trust had a net margin of 2.00% and a return on equity of 1.52%. The company had revenue of $354.48 million during the quarter, compared to analyst estimates of $343.24 million. During the same quarter in the previous year, the business earned $0.27 EPS. The firm’s revenue was up 7.4% on a year-over-year basis.

RLJ Lodging Trust Stock Down 2.8%

RLJ traded down $0.35 during trading on Thursday, hitting $12.37. The company had a trading volume of 3,272,851 shares, compared to its average volume of 2,016,526. The company has a market capitalization of $1.88 billion, a PE ratio of 8.74, a PEG ratio of 2.15 and a beta of 1.14. The company has a quick ratio of 5.71, a current ratio of 5.71 and a debt-to-equity ratio of 1.50. RLJ Lodging Trust has a one year low of $6.73 and a one year high of $12.94. The firm’s 50-day moving average price is $11.43 and its 200 day moving average price is $9.95.

RLJ Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, September 30th.

Wall Street Analyst Weigh In

Several analysts recently commented on RLJ shares. Raymond James Financial downgraded RLJ Lodging Trust from an “outperform” rating to a “market perform” rating in a research note on Monday, September 28th. Barclays boosted their target price on RLJ Lodging Trust from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Tuesday, October 13th. Wells Fargo & Company increased their price target on RLJ Lodging Trust from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Truist Financial raised 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. Finally, Zacks Research upgraded RLJ Lodging Trust from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, RLJ Lodging Trust presently has an average rating of “Hold” and a consensus target price of $11.81.

RLJ Lodging Trust Company Profile

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.