RLJ Lodging Trust (NYSE:RLJ) Releases Earnings Results, Beats Estimates By $0.40 EPS

Key Points

• RLJ reported quarterly EPS of $0.33, beating the consensus estimate of ($0.07) by $0.40, with revenue up 3.6% year-over-year.
• The company paid a quarterly dividend of $0.15 (annualized $0.60), yielding 7.2%, but reported an outsized payout ratio of 3,000%.
• Shares opened at $8.31 with a market cap of $1.26B and a P/E near 415; analysts hold a consensus rating of "Hold" with an average price target of $8.00, and institutional investors own about 92.35% of the stock.

RLJ Lodging Trust (NYSE:RLJ - Get Free Report) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.40, Briefing.com reports. RLJ Lodging Trust had a net margin of 2.11% and a return on equity of 1.54%. During the same quarter in the prior year, the business earned $0.31 EPS. The firm's revenue was up 3.6% on a year-over-year basis.

RLJ Lodging Trust Trading Up 0.1%

RLJ stock opened at $8.31 on Monday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 415.55 and a beta of 1.09. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $7.82 and a 200-day simple moving average of $7.62. RLJ Lodging Trust has a 52 week low of $6.54 and a 52 week high of $8.63.

RLJ Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.60 annualized dividend and a dividend yield of 7.2%. RLJ Lodging Trust's payout ratio is currently 3,000.00%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RLJ. LADENBURG THALM/SH SH initiated coverage on RLJ Lodging Trust in a report on Thursday, March 26th. They issued a "neutral" rating and a $8.50 price target for the company. Truist Financial decreased their price objective on RLJ Lodging Trust from $8.00 to $7.00 and set a "hold" rating on the stock in a report on Monday, April 6th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of RLJ Lodging Trust in a research report on Monday, April 20th. Zacks Research upgraded RLJ Lodging Trust from a "strong sell" rating to a "hold" rating in a research report on Monday, January 12th. Finally, Barclays assumed coverage on RLJ Lodging Trust in a research note on Tuesday, January 6th. They issued an "underweight" rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $8.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in RLJ Lodging Trust by 286.2% during the second quarter. Ameriprise Financial Inc. now owns 1,618,413 shares of the real estate investment trust's stock worth $11,783,000 after acquiring an additional 1,199,318 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of RLJ Lodging Trust by 179.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,434,974 shares of the real estate investment trust's stock valued at $10,447,000 after purchasing an additional 921,548 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of RLJ Lodging Trust by 33.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,042,014 shares of the real estate investment trust's stock worth $21,903,000 after purchasing an additional 759,913 shares during the period. Hudson Bay Capital Management LP purchased a new stake in shares of RLJ Lodging Trust during the 4th quarter worth about $5,068,000. Finally, Invesco Ltd. increased its position in RLJ Lodging Trust by 47.5% during the 2nd quarter. Invesco Ltd. now owns 1,634,179 shares of the real estate investment trust's stock worth $11,897,000 after purchasing an additional 526,172 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company's stock.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-managed, publicly traded real estate investment trust (REIT) that acquires, owns and operates premium-branded, focused-service and compact full-service hotels. The company's portfolio is concentrated in major U.S. markets, targeting properties that benefit from strong corporate and leisure demand, limited new supply and established brand affiliations.

The trust's hotels are affiliated with leading global lodging brands across the spectrum of service levels, including lifestyle and upscale segments.

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