RLJ Lodging Trust (NYSE:RLJ) Releases Earnings Results, Beats Expectations By $0.03 EPS
RLJ Lodging Trust (NYSE:RLJ) posted its earnings results on Thursday. The real estate investment trust reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03, Bloomberg Earnings reports. RLJ Lodging Trust had a return on equity of 8.95% and a net margin of 17.19%. The firm had revenue of $292.28 million for the quarter, compared to analysts’ expectations of $293.16 million. During the same period last year, the firm earned $0.82 EPS. The company’s quarterly revenue was down 7.8% on a year-over-year basis.
RLJ Lodging Trust (NYSE:RLJ) traded up 1.46% during midday trading on Friday, reaching $20.78. The company had a trading volume of 2,786,700 shares. RLJ Lodging Trust has a 1-year low of $18.92 and a 1-year high of $25.10. The stock has a market capitalization of $2.57 billion, a PE ratio of 13.15 and a beta of 1.16. The firm’s 50 day moving average is $20.55 and its 200 day moving average is $21.95.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.35%. The ex-dividend date was Wednesday, June 28th. RLJ Lodging Trust’s payout ratio is 83.54%.
A number of research firms have recently commented on RLJ. Royal Bank Of Canada restated a “buy” rating and set a $25.00 target price on shares of RLJ Lodging Trust in a research report on Friday. Boenning Scattergood set a $20.00 target price on RLJ Lodging Trust and gave the company a “sell” rating in a research report on Tuesday, July 18th. Zacks Investment Research cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. ValuEngine upgraded RLJ Lodging Trust from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 20th. Finally, Janney Montgomery Scott restated a “buy” rating and set a $28.00 target price (up from $26.00) on shares of RLJ Lodging Trust in a research report on Monday, June 5th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $24.88.
RLJ Lodging Trust Company Profile
RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.
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