RLJ Lodging Trust (NYSE:RLJ - Get Free Report) announced a quarterly dividend on Friday, June 13th, RTT News reports. Shareholders of record on Monday, June 30th will be given a dividend of 0.15 per share by the real estate investment trust on Tuesday, July 15th. This represents a $0.60 annualized dividend and a yield of 8.30%. The ex-dividend date is Monday, June 30th.
RLJ Lodging Trust has a dividend payout ratio of 600.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect RLJ Lodging Trust to earn $1.42 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 42.3%.
RLJ Lodging Trust Stock Performance
Shares of RLJ stock traded up $0.18 during trading on Monday, reaching $7.23. 1,832,836 shares of the company's stock were exchanged, compared to its average volume of 1,897,548. RLJ Lodging Trust has a twelve month low of $6.16 and a twelve month high of $10.84. The firm's fifty day moving average price is $7.18 and its 200-day moving average price is $8.69. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $1.10 billion, a PE ratio of 24.92, a PEG ratio of 2.87 and a beta of 1.48.
RLJ Lodging Trust (NYSE:RLJ - Get Free Report) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. The company had revenue of $328.12 million during the quarter, compared to analysts' expectations of $328.08 million. RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. RLJ Lodging Trust's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. As a group, sell-side analysts anticipate that RLJ Lodging Trust will post 1.37 EPS for the current year.
Analyst Ratings Changes
A number of research firms have recently weighed in on RLJ. Wells Fargo & Company dropped their target price on RLJ Lodging Trust from $10.50 to $9.75 and set an "underweight" rating for the company in a report on Tuesday, February 18th. Oppenheimer dropped their price objective on shares of RLJ Lodging Trust from $12.00 to $11.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Truist Financial decreased their target price on shares of RLJ Lodging Trust from $10.00 to $7.00 and set a "hold" rating on the stock in a research report on Monday, June 9th. KeyCorp lowered their target price on shares of RLJ Lodging Trust from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, Wall Street Zen cut RLJ Lodging Trust from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $9.96.
Check Out Our Latest Research Report on RLJ
Insider Activity
In other RLJ Lodging Trust news, Director Patricia L. Gibson acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was acquired at an average cost of $8.03 per share, for a total transaction of $80,300.00. Following the transaction, the director now directly owns 124,217 shares in the company, valued at $997,462.51. This represents a 8.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company's stock.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in RLJ Lodging Trust stock. Amundi raised its position in RLJ Lodging Trust (NYSE:RLJ - Free Report) by 12.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,874 shares of the real estate investment trust's stock after purchasing an additional 9,983 shares during the quarter. Amundi owned 0.06% of RLJ Lodging Trust worth $717,000 as of its most recent SEC filing. 92.35% of the stock is currently owned by institutional investors and hedge funds.
About RLJ Lodging Trust
(
Get Free Report)
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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