RLJ Lodging Trust (RLJ) Expected to Announce Quarterly Sales of $295.75 Million
Wall Street analysts expect RLJ Lodging Trust (NYSE:RLJ) to announce sales of $295.75 million for the current quarter, Zacks reports. Five analysts have issued estimates for RLJ Lodging Trust’s earnings, with the highest sales estimate coming in at $304.36 million and the lowest estimate coming in at $289.37 million. RLJ Lodging Trust reported sales of $317.11 million during the same quarter last year, which would suggest a negative year over year growth rate of 6.7%. The company is expected to announce its next earnings results after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that RLJ Lodging Trust will report full-year sales of $295.75 million for the current financial year, with estimates ranging from $1.09 billion to $1.11 billion. For the next financial year, analysts expect that the business will report sales of $1.12 billion per share, with estimates ranging from $1.11 billion to $1.13 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover RLJ Lodging Trust.
RLJ Lodging Trust (NYSE:RLJ) last announced its quarterly earnings data on Monday, May 8th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. RLJ Lodging Trust had a return on equity of 8.95% and a net margin of 17.19%. The company had revenue of $260.20 million for the quarter, compared to analysts’ expectations of $263.57 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. RLJ Lodging Trust’s revenue was down 5.4% compared to the same quarter last year.
A number of brokerages have recently commented on RLJ. Boenning Scattergood set a $20.00 target price on shares of RLJ Lodging Trust and gave the company a “sell” rating in a report on Tuesday, July 18th. Zacks Investment Research cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $28.00 target price (up from $26.00) on shares of RLJ Lodging Trust in a 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. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. RLJ Lodging Trust currently has an average rating of “Hold” and an average target price of $25.13.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in shares of RLJ Lodging Trust during the fourth quarter valued at $9,167,000. New York State Teachers Retirement System raised its position in shares of RLJ Lodging Trust by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 10,700 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 100 shares in the last quarter. Guggenheim Capital LLC raised its position in shares of RLJ Lodging Trust by 14.8% in the fourth quarter. Guggenheim Capital LLC now owns 27,973 shares of the real estate investment trust’s stock valued at $685,000 after buying an additional 3,599 shares in the last quarter. Norges Bank bought a new position in shares of RLJ Lodging Trust during the fourth quarter valued at $31,576,000. Finally, Teachers Advisors LLC raised its position in shares of RLJ Lodging Trust by 60.4% in the fourth quarter. Teachers Advisors LLC now owns 972,618 shares of the real estate investment trust’s stock valued at $23,819,000 after buying an additional 366,304 shares in the last quarter. 98.43% of the stock is owned by institutional investors.
Shares of RLJ Lodging Trust (NYSE RLJ) opened at 21.06 on Friday. The company has a market cap of $2.61 billion, a PE ratio of 13.33 and a beta of 1.15. The firm’s 50-day moving average price is $20.50 and its 200 day moving average price is $22.14. RLJ Lodging Trust has a 12 month low of $18.92 and a 12 month high of $25.10.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.27%. The ex-dividend date was Wednesday, June 28th. RLJ Lodging Trust’s dividend payout ratio is currently 83.54%.
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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