RLJ Lodging Trust (RLJ) Expected to Post Quarterly Sales of $443.45 Million
Equities analysts expect RLJ Lodging Trust (NYSE:RLJ) to post sales of $443.45 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for RLJ Lodging Trust’s earnings. The lowest sales estimate is $398.99 million and the highest is $470.00 million. RLJ Lodging Trust posted sales of $271.45 million during the same quarter last year, which suggests a positive year over year growth rate of 63.4%. The firm is expected to report its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that RLJ Lodging Trust will report full-year sales of $443.45 million for the current year, with estimates ranging from $1.29 billion to $1.38 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.88 billion per share, with estimates ranging from $1.74 billion to $1.97 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow RLJ Lodging Trust.
RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. RLJ Lodging Trust had a net margin of 12.30% and a return on equity of 5.80%. The business had revenue of $341.26 million during the quarter, compared to analysts’ expectations of $347.74 million. During the same period last year, the company posted $0.69 EPS. The business’s revenue was up 15.2% on a year-over-year basis.
A number of equities analysts have commented on RLJ shares. Boenning Scattergood set a $20.00 price objective on shares of RLJ Lodging Trust and gave the stock a “sell” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada reissued a “buy” rating and issued a $25.00 price objective on shares of RLJ Lodging Trust in a research note on Friday, August 4th. Canaccord Genuity restated a “hold” rating and issued a $21.00 target price on shares of RLJ Lodging Trust in a report on Monday, August 7th. Bank of America Corporation began coverage on shares of RLJ Lodging Trust in a report on Monday, August 14th. They issued a “neutral” rating and a $22.00 target price for the company. Finally, Zacks Investment Research upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.00.
RLJ Lodging Trust (NYSE RLJ) opened at $20.70 on Wednesday. RLJ Lodging Trust has a 52 week low of $19.12 and a 52 week high of $25.10. The company has a market cap of $2,608.69, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 1.81 and a beta of 1.14. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.90.
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In related news, Director Nathaniel A. Davis sold 10,000 shares of RLJ Lodging Trust stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total transaction of $201,100.00. Following the completion of the sale, the director now owns 72,928 shares in the company, valued at approximately $1,466,582.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in RLJ. Principal Financial Group Inc. lifted its holdings in RLJ Lodging Trust by 29.5% during the 1st quarter. Principal Financial Group Inc. now owns 21,644 shares of the real estate investment trust’s stock valued at $509,000 after buying an additional 4,935 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in RLJ Lodging Trust by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,803,471 shares of the real estate investment trust’s stock valued at $42,399,000 after buying an additional 86,753 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in RLJ Lodging Trust by 0.9% during the 1st quarter. New York State Teachers Retirement System now owns 10,800 shares of the real estate investment trust’s stock valued at $254,000 after buying an additional 100 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its holdings in RLJ Lodging Trust by 8.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 32,095 shares of the real estate investment trust’s stock valued at $638,000 after buying an additional 2,435 shares in the last quarter. Finally, James Investment Research Inc. lifted its holdings in RLJ Lodging Trust by 868.6% during the 2nd quarter. James Investment Research Inc. now owns 59,325 shares of the real estate investment trust’s stock valued at $1,179,000 after buying an additional 53,200 shares in the last quarter.
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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