Analysts Anticipate RLJ Lodging Trust (RLJ) Will Announce Earnings of $0.61 Per Share
Brokerages expect RLJ Lodging Trust (NYSE:RLJ) to announce earnings of $0.61 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for RLJ Lodging Trust’s earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.60. RLJ Lodging Trust reported earnings of $0.33 per share in the same quarter last year, which would indicate a positive year over year growth rate of 84.8%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that RLJ Lodging Trust will report full-year earnings of $2.36 per share for the current fiscal year, with EPS estimates ranging from $2.31 to $2.46. For the next year, analysts anticipate that the business will report earnings of $2.50 per share, with EPS estimates ranging from $2.34 to $2.62. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow RLJ Lodging Trust.
RLJ Lodging Trust (NYSE:RLJ) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. RLJ Lodging Trust had a net margin of 16.12% and a return on equity of 8.16%. The business had revenue of $292.28 million during the quarter, compared to the consensus estimate of $293.16 million. During the same period last year, the business posted $0.82 EPS. RLJ Lodging Trust’s revenue was down 7.8% on a year-over-year basis.
A number of brokerages have issued reports on RLJ. ValuEngine downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Bank of America Corporation began coverage on shares of RLJ Lodging Trust in a research report on Monday, August 14th. They issued a “neutral” rating and a $22.00 price objective for the company. Canaccord Genuity raised shares of RLJ Lodging Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $21.00 to $23.00 in a research report on Friday, September 8th. Finally, Deutsche Bank AG began coverage on shares of RLJ Lodging Trust in a research report on Tuesday, September 19th. They issued a “hold” rating and a $22.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $24.09.
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In other RLJ Lodging Trust news, Director Nathaniel A. Davis sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total value of $201,100.00. Following the transaction, the director now directly owns 72,928 shares in the company, valued at $1,466,582.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Forgia Robert M. La bought 5,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average price of $19.73 per share, for a total transaction of $98,650.00. Following the completion of the purchase, the director now owns 37,528 shares of the company’s stock, valued at $740,427.44. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in shares of RLJ Lodging Trust by 8.0% during the 1st quarter. SG Americas Securities LLC now owns 8,332 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 615 shares in the last quarter. Paragon Capital Management Ltd purchased a new stake in shares of RLJ Lodging Trust during the 2nd quarter valued at approximately $208,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of RLJ Lodging Trust during the 2nd quarter valued at approximately $214,000. Denver Investment Advisors LLC lifted its stake in shares of RLJ Lodging Trust by 0.9% during the 2nd quarter. Denver Investment Advisors LLC now owns 11,000 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 100 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of RLJ Lodging Trust by 13.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 11,200 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 1,300 shares in the last quarter.
Shares of RLJ Lodging Trust (NYSE RLJ) opened at 21.88 on Thursday. The firm has a market capitalization of $2.71 billion, a P/E ratio of 15.09 and a beta of 1.17. The company has a 50-day moving average of $20.93 and a 200 day moving average of $21.16. RLJ Lodging Trust has a 52 week low of $18.92 and a 52 week high of $25.10.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Monday, August 28th. RLJ Lodging Trust’s payout ratio is 30.34%.
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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