RLJ Lodging Trust (RLJ) To Go Ex-Dividend on September 30th

RLJ Lodging Trust (NYSE:RLJ) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.15 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from RLJ Lodging Trust’s previous quarterly dividend of $0.10.

RLJ Lodging Trust has a dividend payout ratio of 333.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect RLJ Lodging Trust to earn $1.42 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 42.3%.

RLJ Lodging Trust Price Performance

Shares of NYSE RLJ opened at $9.42 on Friday. The company has a market capitalization of $1.46 billion, a PE ratio of 33.64, a P/E/G ratio of 0.94 and a beta of 1.70. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.12. RLJ Lodging Trust has a twelve month low of $8.79 and a twelve month high of $12.39. The firm has a fifty day simple moving average of $9.32 and a 200 day simple moving average of $10.12.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.25). RLJ Lodging Trust had a return on equity of 3.34% and a net margin of 4.93%. The business had revenue of $369.30 million during the quarter, compared to the consensus estimate of $365.67 million. During the same period last year, the business posted $0.56 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that RLJ Lodging Trust will post 1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Bank of America lowered their price objective on shares of 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. Compass Point lowered shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $10.00 in a report on Monday, August 5th. Robert W. Baird reduced their target price on RLJ Lodging Trust from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, June 11th. Wells Fargo & Company lowered RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $11.00 to $9.00 in a report on Friday, September 13th. Finally, Wolfe Research downgraded RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, RLJ Lodging Trust presently has a consensus rating of “Hold” and a consensus target price of $12.25.

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 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.