RLJ Lodging Trust (NYSE:RLJ) announced a quarterly dividend on Tuesday, September 15th, Zacks reports. Investors of record on Wednesday, September 30th will be paid a dividend of 0.01 per share by the real estate investment trust on Thursday, October 15th. This represents a $0.04 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, September 29th.
NYSE:RLJ traded down $0.19 during trading hours on Wednesday, reaching $10.01. 183 shares of the stock were exchanged, compared to its average volume of 2,380,246. The stock has a market capitalization of $1.68 billion, a P/E ratio of -16.19 and a beta of 1.79. The firm has a 50 day simple moving average of $9.21 and a 200-day simple moving average of $9.17. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 1.01. RLJ Lodging Trust has a 52 week low of $3.88 and a 52 week high of $18.17.
RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.03). RLJ Lodging Trust had a negative net margin of 7.60% and a negative return on equity of 2.80%. The firm had revenue of $32.59 million during the quarter, compared to the consensus estimate of $37.69 million. During the same quarter last year, the firm posted $0.69 earnings per share. RLJ Lodging Trust’s revenue was down 92.7% compared to the same quarter last year. As a group, analysts expect that RLJ Lodging Trust will post -0.9 earnings per share for the current year.
A number of research analysts have recently issued reports on the stock. Raymond James reduced their price target on shares of RLJ Lodging Trust from $14.50 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 14th. Wells Fargo & Company cut their target price on shares of RLJ Lodging Trust from $15.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Capital One Financial upgraded RLJ Lodging Trust from an “equal weight” rating to an “overweight” rating and set a $11.50 target price on the stock in a research note on Monday, June 29th. Barclays increased their price objective on shares of RLJ Lodging Trust from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Finally, SunTrust Banks upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating and raised their price target for the company from $7.00 to $8.00 in a research note on Friday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $10.93.
RLJ Lodging Trust Company Profile
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 150 hotels with approximately 28,600 rooms, located in 25 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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