RLJ Lodging Trust (NYSE:RLJ – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.45-1.58 for the period, compared to the consensus EPS estimate of $1.60. RLJ Lodging Trust also updated its FY 2024 guidance to 1.450-1.580 EPS.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Robert W. Baird cut their price target on RLJ Lodging Trust from $13.00 to $12.00 and set an outperform rating on the stock in a report on Tuesday, June 11th. Bank of America cut their price target on RLJ Lodging Trust from $12.00 to $10.00 and set an underperform rating on the stock in a report on Monday, July 22nd. Finally, StockNews.com downgraded RLJ Lodging Trust from a hold rating to a sell rating in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, RLJ Lodging Trust presently has a consensus rating of Hold and a consensus price target of $13.07.
Read Our Latest Stock Analysis on RLJ Lodging Trust
RLJ Lodging Trust Stock Performance
RLJ Lodging Trust Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.15 per share. 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. This represents a $0.60 annualized dividend and a dividend yield of 6.51%. RLJ Lodging Trust’s dividend payout ratio (DPR) is 142.86%.
About RLJ Lodging Trust
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.
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