RLJ Lodging Trust (NYSE:RLJ – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.450-1.580 for the period, compared to the consensus estimate of 1.600. The company issued revenue guidance of -. RLJ Lodging Trust also updated its FY24 guidance to $1.45-1.58 EPS.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Bank of America decreased their price target on 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. StockNews.com lowered RLJ Lodging Trust from a hold rating to a sell rating in a research note on Thursday, May 23rd. Finally, Robert W. Baird reduced their price objective on RLJ Lodging Trust from $13.00 to $12.00 and set an outperform rating on the stock in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $13.07.
Check Out Our Latest Research Report on RLJ Lodging Trust
RLJ Lodging Trust Stock Down 0.3 %
RLJ Lodging Trust Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change 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 payout ratio is 142.86%.
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 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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