RLJ Lodging Trust (NYSE:RLJ) Issues FY24 Earnings Guidance

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.55-1.75 for the period, compared to the consensus estimate of $1.65. RLJ Lodging Trust also updated its FY 2024 guidance to 1.550-1.750 EPS.

RLJ Lodging Trust Stock Down 0.4 %

NYSE RLJ traded down $0.04 on Wednesday, hitting $10.96. 1,343,961 shares of the stock traded hands, compared to its average volume of 1,264,219. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average of $11.68 and a 200 day moving average of $11.23. RLJ Lodging Trust has a twelve month low of $9.06 and a twelve month high of $12.39. The company has a market capitalization of $1.71 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 0.91 and a beta of 1.71.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.04. The firm had revenue of $319.70 million during the quarter, compared to the consensus estimate of $313.34 million. RLJ Lodging Trust had a net margin of 5.76% and a return on equity of 3.79%. The firm's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, analysts expect that RLJ Lodging Trust will post 1.55 earnings per share for the current fiscal year.

RLJ Lodging Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.40 dividend on an annualized basis and a yield of 3.65%. RLJ Lodging Trust's dividend payout ratio is currently 125.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RLJ. Wolfe Research began coverage on shares of RLJ Lodging Trust in a research note on Wednesday, January 10th. They issued an outperform rating and a $15.00 price target on the stock. StockNews.com cut RLJ Lodging Trust from a hold rating to a sell rating in a research report on Monday. Finally, Oppenheimer boosted their price target on RLJ Lodging Trust from $14.00 to $15.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $13.90.

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.

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