RLJ Lodging Trust (NYSE:RLJ) Announces Earnings Results, Beats Estimates By $0.38 EPS

Key Points

• RLJ Lodging Trust reported quarterly EPS of $0.34, beating the consensus estimate of a $0.04 loss by $0.38. Revenue was $354.48 million, above estimates and up 7.4% year over year.
• The shares rose 1.1% in Wednesday trading, closing at $12.73.
• RLJ paid a quarterly dividend of $0.15 per share, equivalent to an annualized yield of 4.7%; analysts’ consensus rating was Hold, with an average price target of $11.81.

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

RLJ Lodging Trust Stock Up 1.1%

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

RLJ Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RLJ shares. Truist Financial lifted their price target on RLJ Lodging Trust from $10.00 to $11.00 and gave the company a "hold" rating in a report on Monday, September 21st. Barclays boosted their price target on RLJ Lodging Trust from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Tuesday, October 13th. Raymond James Financial cut RLJ Lodging Trust from an "outperform" rating to a "market perform" rating in a research note on Monday, September 28th. Weiss Ratings upgraded RLJ Lodging Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 23rd. Finally, Bank of America raised their price objective on RLJ Lodging Trust from $9.25 to $10.50 and gave the company an "underperform" rating in a research report on Monday, July 20th. One 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 given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $11.81.

About RLJ Lodging Trust

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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