RLJ Lodging Trust Announces Quarterly Dividend of $0.33 (RLJ)
RLJ Lodging Trust (NYSE:RLJ) announced a quarterly dividend on Thursday, June 15th, NASDAQ reports. Shareholders of record on Friday, June 30th will be given a dividend of 0.33 per share by the real estate investment trust on Friday, July 14th. This represents a $1.32 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date is Wednesday, June 28th.
RLJ Lodging Trust has increased its dividend payment by an average of 17.2% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. RLJ Lodging Trust has a dividend payout ratio of 56.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect RLJ Lodging Trust to earn $2.37 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 55.7%.
RLJ Lodging Trust (RLJ) traded up 0.5276% on Friday, hitting $20.9399. 488,026 shares of the stock were exchanged. The company has a market capitalization of $2.59 billion, a PE ratio of 13.2531 and a beta of 1.14. The company has a 50-day moving average price of $20.78 and a 200 day moving average price of $22.78. RLJ Lodging Trust has a 1-year low of $18.92 and a 1-year high of $25.10.
RLJ Lodging Trust (NYSE:RLJ) last announced its earnings results on Monday, May 8th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. RLJ Lodging Trust had a net margin of 17.19% and a return on equity of 8.95%. The firm had revenue of $260.20 million for the quarter, compared to analyst estimates of $263.57 million. During the same quarter in the prior year, the business posted $0.57 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. Analysts anticipate that RLJ Lodging Trust will post $1.09 EPS for the current fiscal year.
A number of brokerages have issued reports on RLJ. Boenning Scattergood restated an “underperform” rating on shares of RLJ Lodging Trust in a research report on Wednesday, April 12th. Zacks Investment Research upgraded shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Saturday, February 25th. Janney Montgomery Scott restated a “buy” rating and set a $28.00 target price (up previously from $26.00) on shares of RLJ Lodging Trust in a research report on Monday, June 5th. Finally, ValuEngine lowered shares of RLJ Lodging Trust from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.17.
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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