RLJ Lodging Trust (NYSE:RLJ) to Issue Quarterly Dividend of $0.15

RLJ Lodging Trust (NYSE:RLJ) announced a quarterly dividend on Monday, June 15th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.15 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, June 30th.

RLJ Lodging Trust has increased its dividend payment by an average of 0.7%annually over the last three years and has increased its dividend every year for the last 3 years. RLJ Lodging Trust has a dividend payout ratio of 600.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect RLJ Lodging Trust to earn $1.26 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 47.6%.

RLJ Lodging Trust Price Performance

Shares of RLJ opened at $11.06 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.89 and a quick ratio of 2.89. RLJ Lodging Trust has a 1-year low of $6.54 and a 1-year high of $11.16. The stock has a market cap of $1.68 billion, a PE ratio of -1,105.50 and a beta of 1.13. The firm has a fifty day moving average price of $9.01 and a 200 day moving average price of $8.17.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. RLJ Lodging Trust had a return on equity of 1.37% and a net margin of 1.84%.The company had revenue of $339.98 million for the quarter, compared to analyst estimates of $323.51 million. During the same quarter last year, the company posted $0.31 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that RLJ Lodging Trust will post 1.26 EPS for the current year.

Hedge Funds Weigh In On RLJ Lodging Trust

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in RLJ Lodging Trust by 2,721.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,470 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 3,347 shares during the period. Daytona Street Capital LLC acquired a new position in shares of RLJ Lodging Trust in the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. raised its stake in shares of RLJ Lodging Trust by 166.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,618 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 2,887 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of RLJ Lodging Trust during the third quarter worth $36,000. Finally, Danske Bank A S acquired a new stake in shares of RLJ Lodging Trust during the third quarter worth $50,000. Institutional investors and hedge funds own 92.35% of the company’s stock.

About RLJ Lodging Trust

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.