RLJ Lodging Trust (NYSE:RLJ) Issues FY24 Earnings Guidance

RLJ Lodging Trust (NYSE:RLJ) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.45-$1.58 for the period, compared to the consensus EPS estimate of $1.50. RLJ Lodging Trust also updated its FY 2024 guidance to 1.450-1.580 EPS.

RLJ Lodging Trust Stock Performance

Shares of RLJ stock traded up $0.23 on Friday, hitting $9.72. 2,443,134 shares of the stock traded hands, compared to its average volume of 1,403,553. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60. The company has a market capitalization of $1.51 billion, a PE ratio of 33.52, a PEG ratio of 0.89 and a beta of 1.70. RLJ Lodging Trust has a 1-year low of $8.74 and a 1-year high of $12.39. The company’s fifty day moving average is $9.23 and its 200 day moving average is $9.59.

Wall Street Analyst Weigh In

RLJ has been the topic of several research reports. Compass Point lowered RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $10.00 in a research report on Monday, August 5th. Wells Fargo & Company downgraded RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $11.00 to $9.00 in a research note on Friday, September 13th. Bank of America lowered their price objective on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a research note on Monday, July 22nd. Wolfe Research downgraded RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Finally, StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.71.

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.