RLJ Lodging Trust (NYSE:RLJ) announced its earnings results on Tuesday. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.17), Fidelity Earnings reports. RLJ Lodging Trust had a net margin of 5.72% and a return on equity of 3.11%. The business had revenue of $447.00 million during the quarter, compared to analyst estimates of $450.68 million. During the same quarter last year, the business posted $0.61 earnings per share. The business’s quarterly revenue was up 31.0% compared to the same quarter last year.
RLJ Lodging Trust stock traded up $0.82 during mid-day trading on Wednesday, hitting $20.04. The stock had a trading volume of 1,391,500 shares, compared to its average volume of 1,273,804. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 8.35, a P/E/G ratio of 1.74 and a beta of 1.14. RLJ Lodging Trust has a 12 month low of $18.67 and a 12 month high of $23.97. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.82.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend was Thursday, September 27th. RLJ Lodging Trust’s dividend payout ratio is 55.00%.
A number of analysts have recently weighed in on RLJ shares. Bank of America lowered their target price on RLJ Lodging Trust from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, October 4th. TheStreet upgraded RLJ Lodging Trust from a “c+” rating to a “b-” rating in a research note on Tuesday, September 25th. Zacks Investment Research upgraded RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Robert W. Baird upgraded RLJ Lodging Trust from a “neutral” rating to an “outperform” rating in a research note on Friday, September 21st. Finally, Wells Fargo & Co lowered RLJ Lodging Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $22.67.
A number of institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. boosted its holdings in RLJ Lodging Trust by 4.8% in the third quarter. Prudential Financial Inc. now owns 583,719 shares of the real estate investment trust’s stock valued at $12,859,000 after acquiring an additional 26,848 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in RLJ Lodging Trust by 4.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 183,781 shares of the real estate investment trust’s stock valued at $4,049,000 after acquiring an additional 7,401 shares during the last quarter. Systematic Financial Management LP bought a new position in RLJ Lodging Trust in the third quarter valued at about $1,437,000. Virginia Retirement Systems ET AL bought a new position in RLJ Lodging Trust in the third quarter valued at about $1,317,000. Finally, Daiwa Securities Group Inc. boosted its holdings in RLJ Lodging Trust by 1.1% in the third quarter. Daiwa Securities Group Inc. now owns 6,187,563 shares of the real estate investment trust’s stock valued at $136,312,000 after acquiring an additional 64,522 shares during the last quarter. Institutional investors and hedge funds own 98.60% of the company’s stock.
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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 154 hotels with approximately 30,000 rooms located in 26 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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