RLJ Lodging Trust (RLJ) To Go Ex-Dividend on March 31st

RLJ Lodging Trust (NYSE:RLJ) declared a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.15 per share by the real estate investment trust on Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 7.48%. The ex-dividend date is Monday, March 31st.

RLJ Lodging Trust has raised its dividend payment by an average of 307.9% per year over the last three years. RLJ Lodging Trust has a dividend payout ratio of 315.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Down 2.0 %

RLJ stock opened at $8.03 on Friday. The stock has a market capitalization of $1.22 billion, a P/E ratio of 27.67, a P/E/G ratio of 2.87 and a beta of 1.69. RLJ Lodging Trust has a fifty-two week low of $7.98 and a fifty-two week high of $11.99. The business has a 50-day moving average of $9.32 and a 200-day moving average of $9.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.74 and a quick ratio of 2.74.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.36. The firm had revenue of $329.99 million for the quarter, compared to analyst estimates of $324.66 million. RLJ Lodging Trust had a return on equity of 3.58% and a net margin of 5.19%. On average, sell-side analysts anticipate that RLJ Lodging Trust will post 1.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on RLJ. Truist Financial downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating and cut their target price for the company from $11.00 to $10.00 in a research note on Friday, March 21st. Wells Fargo & Company reduced their target price on RLJ Lodging Trust from $10.50 to $9.75 and set an “underweight” rating for the company in a research note on Tuesday, February 18th. KeyCorp dropped their price target on RLJ Lodging Trust from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, StockNews.com raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.82.

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.