RLJ Lodging Trust (RLJ) to Issue Quarterly Dividend of $0.15 on January 15th

RLJ Lodging Trust (NYSE:RLJ) declared a quarterly dividend on Monday, December 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of 0.15 per share by the real estate investment trust on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Wednesday, December 31st.

RLJ Lodging Trust has decreased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 3 years. 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. Equities 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 Lodging Trust stock opened at $7.68 on Monday. RLJ Lodging Trust has a one year low of $6.16 and a one year high of $10.32. The company has a market cap of $1.16 billion, a PE ratio of 153.50 and a beta of 1.16. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.55 and a current ratio of 2.55. The business has a 50-day simple moving average of $7.36 and a 200-day simple moving average of $7.40.

RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). RLJ Lodging Trust had a net margin of 2.48% and a return on equity of 1.78%. The firm had revenue of $330.05 million during the quarter, compared to analyst estimates of $326.13 million. During the same period last year, the business earned $0.40 EPS. The firm’s revenue was down 4.5% compared to the same quarter last year. On average, equities research analysts forecast that RLJ Lodging Trust will post 1.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $7.50 price objective (down from $9.00) on shares of RLJ Lodging Trust in a research report on Friday, October 3rd. Truist Financial lifted their price target on RLJ Lodging Trust from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, September 5th. Wells Fargo & Company raised RLJ Lodging Trust to a “strong sell” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of RLJ Lodging Trust in a research note on Monday, December 22nd. Finally, Raymond James Financial raised shares of RLJ Lodging Trust from a “market perform” rating to a “strong-buy” rating and set a $9.00 price objective on the stock in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, RLJ Lodging Trust has an average rating of “Hold” and a consensus price target of $9.08.

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.