RLJ Lodging Trust (NYSE:RLJ – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.45-1.58 for the period, compared to the consensus estimate of $1.60. RLJ Lodging Trust also updated its FY 2024 guidance to 1.450-1.580 EPS.
Wall Street Analyst Weigh In
A number of brokerages have commented on RLJ. Robert W. Baird reduced their target price on shares of RLJ Lodging Trust from $13.00 to $12.00 and set an outperform rating for the company in a report on Tuesday, June 11th. Bank of America cut their price objective on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an underperform rating on the stock in a research note on Monday, July 22nd. Finally, StockNews.com downgraded RLJ Lodging Trust from a hold rating to a sell rating in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $13.07.
Check Out Our Latest Stock Analysis on RLJ
RLJ Lodging Trust Stock Performance
RLJ Lodging Trust Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, September 30th. This is an increase from RLJ Lodging Trust’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 6.51%. RLJ Lodging Trust’s dividend payout ratio is currently 142.86%.
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 currently consists of 96 hotels with approximately 21,200 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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