RLJ Lodging Trust (RLJ) to Issue Quarterly Dividend of $0.11 on October 13th
RLJ Lodging Trust (NYSE:RLJ) announced a quarterly dividend on Friday, August 18th, Wall Street Journal reports. Investors of record on Friday, September 29th will be paid a dividend of 0.11 per share by the real estate investment trust on Friday, October 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, September 28th.
RLJ Lodging Trust has raised its dividend by an average of 17.2% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. RLJ Lodging Trust has a dividend payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect RLJ Lodging Trust to earn $2.45 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 18.0%.
Shares of RLJ Lodging Trust (NYSE:RLJ) opened at 21.80 on Friday. The company has a 50 day moving average price of $20.42 and a 200-day moving average price of $21.20. RLJ Lodging Trust has a 12 month low of $18.92 and a 12 month high of $25.10. The firm has a market capitalization of $2.70 billion, a PE ratio of 15.03 and a beta of 1.17.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm had revenue of $292.28 million during the quarter, compared to analyst estimates of $293.16 million. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. RLJ Lodging Trust’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. Equities research analysts expect that RLJ Lodging Trust will post $1.19 EPS for the current fiscal year.
Several analysts recently weighed in on RLJ shares. Boenning Scattergood reissued a “sell” rating and issued a $19.50 price objective on shares of RLJ Lodging Trust in a report on Wednesday, June 14th. Royal Bank Of Canada restated a “buy” rating and issued a $25.00 target price on shares of RLJ Lodging Trust in a research note on Friday, August 4th. BidaskClub downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Janney Montgomery Scott restated a “buy” rating and issued a $28.00 target price (up from $26.00) on shares of RLJ Lodging Trust in a research note on Monday, June 5th. Finally, Deutsche Bank AG initiated coverage on RLJ Lodging Trust in a research note on Tuesday. They issued a “hold” rating and a $22.00 target price for the company. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $24.09.
In other RLJ Lodging Trust news, Director Forgia Robert M. La acquired 5,000 shares of RLJ Lodging Trust stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $19.73 per share, for a total transaction of $98,650.00. Following the completion of the transaction, the director now owns 37,528 shares in the company, valued at approximately $740,427.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nathaniel A. Davis sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $20.11, for a total value of $201,100.00. Following the transaction, the director now owns 72,928 shares of the company’s stock, valued at $1,466,582.08. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
About RLJ Lodging Trust
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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