Zacks: Analysts Anticipate RLJ Lodging Trust (RLJ) to Announce $0.60 Earnings Per Share
Equities analysts expect that RLJ Lodging Trust (NYSE:RLJ) will report earnings of $0.60 per share for the current quarter, Zacks reports. Four analysts have made estimates for RLJ Lodging Trust’s earnings, with estimates ranging from $0.58 to $0.62. RLJ Lodging Trust reported earnings of $0.33 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 81.8%. The firm is expected to report its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that RLJ Lodging Trust will report full year earnings of $2.34 per share for the current fiscal year, with EPS estimates ranging from $2.31 to $2.36. For the next fiscal year, analysts forecast that the business will post earnings of $2.46 per share, with EPS estimates ranging from $2.34 to $2.59. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover RLJ Lodging Trust.
RLJ Lodging Trust (NYSE:RLJ) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The business had revenue of $292.28 million for the quarter, compared to analyst estimates of $293.16 million. RLJ Lodging Trust had a return on equity of 8.16% and a net margin of 16.12%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS.
RLJ has been the topic of a number of recent research reports. ValuEngine upgraded RLJ Lodging Trust from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 20th. Janney Montgomery Scott reiterated a “buy” rating and set a $28.00 price target (up previously from $26.00) on shares of RLJ Lodging Trust in a research note on Monday, June 5th. Boenning Scattergood reiterated a “sell” rating and set a $19.50 price target on shares of RLJ Lodging Trust in a research note on Wednesday, June 14th. BidaskClub downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Zacks Investment Research downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $24.44.
RLJ Lodging Trust (RLJ) traded up 0.33% during trading on Friday, hitting $21.60. The stock had a trading volume of 2,965,460 shares. The company has a 50 day moving average of $20.38 and a 200-day moving average of $21.24. RLJ Lodging Trust has a 12-month low of $18.92 and a 12-month high of $25.10. The company has a market cap of $2.67 billion, a P/E ratio of 14.90 and a beta of 1.17.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Wednesday, August 30th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, August 28th. This represents a $0.88 annualized dividend and a yield of 4.07%. RLJ Lodging Trust’s payout ratio is 60.69%.
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In other RLJ Lodging Trust news, Director Forgia Robert M. La bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average price of $19.73 per share, for a total transaction of $98,650.00. Following the purchase, the director now directly owns 37,528 shares in the company, valued at $740,427.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nathaniel A. Davis sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $20.11, for a total value of $201,100.00. Following the sale, the director now owns 72,928 shares of the company’s stock, valued at approximately $1,466,582.08. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. boosted its stake in RLJ Lodging Trust by 385.1% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 4,657 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 3,697 shares during the period. SG Americas Securities LLC boosted its stake in 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 purchasing an additional 615 shares during the period. Paragon Capital Management Ltd bought a new stake in RLJ Lodging Trust during the 2nd quarter valued at approximately $208,000. Cornerstone Capital Management Holdings LLC. bought a new stake in RLJ Lodging Trust during the 2nd quarter valued at approximately $214,000. Finally, Denver Investment Advisors LLC boosted its stake in 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 purchasing an additional 100 shares during the period.
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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