RLJ Lodging Trust (NYSE:RLJ) Releases FY 2024 Earnings Guidance

RLJ Lodging Trust (NYSE:RLJ) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.450-1.580 for the period, compared to the consensus earnings per share estimate of 1.510. The company issued revenue guidance of -. RLJ Lodging Trust also updated its FY24 guidance to $1.45-$1.58 EPS.

RLJ Lodging Trust Trading Up 5.1 %

NYSE RLJ traded up $0.45 on Wednesday, hitting $9.34. 3,089,696 shares of the stock were exchanged, compared to its average volume of 1,389,307. The company’s 50-day moving average price is $9.23 and its two-hundred day moving average price is $9.61. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 35.35, a P/E/G ratio of 0.84 and a beta of 1.70. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60.

Analyst Ratings Changes

RLJ has been the subject of a number of research reports. StockNews.com cut RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday. Compass Point cut RLJ Lodging Trust from a “buy” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $10.00 in a research note on Monday, August 5th. Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Truist Financial decreased their target price on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Bank of America cut their price target on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $11.71.

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.