$181.40 Million in Sales Expected for RLJ Lodging Trust (NYSE:RLJ) This Quarter

Brokerages expect RLJ Lodging Trust (NYSE:RLJ) to announce $181.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for RLJ Lodging Trust’s earnings. The lowest sales estimate is $160.12 million and the highest is $204.00 million. RLJ Lodging Trust reported sales of $32.59 million in the same quarter last year, which indicates a positive year-over-year growth rate of 456.6%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, August 5th.

According to Zacks, analysts expect that RLJ Lodging Trust will report full-year sales of $747.09 million for the current financial year, with estimates ranging from $684.07 million to $886.00 million. For the next fiscal year, analysts forecast that the business will post sales of $1.16 billion, with estimates ranging from $1.07 billion to $1.41 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for RLJ Lodging Trust.

RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings data on Wednesday, May 5th. The real estate investment trust reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.23). RLJ Lodging Trust had a negative net margin of 138.50% and a negative return on equity of 18.97%.

Several equities analysts have recently weighed in on RLJ shares. Truist Securities upgraded RLJ Lodging Trust from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $19.00 in a report on Wednesday, April 14th. Truist Financial raised shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $19.00 in a research report on Wednesday, April 14th. Zacks Investment Research raised RLJ Lodging Trust from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday. KeyCorp boosted their target price on RLJ Lodging Trust from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, April 15th. Finally, Truist raised shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, April 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. RLJ Lodging Trust has a consensus rating of “Buy” and an average price target of $15.00.

NYSE:RLJ traded down $0.16 on Monday, reaching $14.46. The company’s stock had a trading volume of 41,146 shares, compared to its average volume of 1,304,517. RLJ Lodging Trust has a 1-year low of $7.67 and a 1-year high of $17.51. The stock’s 50-day moving average price is $15.16. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -4.94 and a beta of 2.17. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 1.06.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, June 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. RLJ Lodging Trust’s dividend payout ratio is currently -4.08%.

Several hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. boosted its holdings in shares of RLJ Lodging Trust by 43.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,482 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 756 shares during the period. Eaton Vance Management bought a new stake in shares of RLJ Lodging Trust in the first quarter valued at about $46,000. Harvest Fund Management Co. Ltd bought a new position in RLJ Lodging Trust during the first quarter worth about $65,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of RLJ Lodging Trust by 29.5% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,480 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of RLJ Lodging Trust in the first quarter valued at approximately $106,000. 93.20% of the stock is currently owned by institutional investors and hedge funds.

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 consists of 103 hotels with approximately 22,570 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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Earnings History and Estimates for RLJ Lodging Trust (NYSE:RLJ)

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