Analysts expect RLJ Lodging Trust (NYSE:RLJ) to post sales of $402.44 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for RLJ Lodging Trust’s earnings, with estimates ranging from $388.00 million to $413.98 million. RLJ Lodging Trust posted sales of $429.59 million in the same quarter last year, which suggests a negative year-over-year growth rate of 6.3%. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, May 8th.
On average, analysts expect that RLJ Lodging Trust will report full year sales of $1.70 billion for the current financial year, with estimates ranging from $1.67 billion to $1.75 billion. For the next year, analysts anticipate that the company will post sales of $1.72 billion, with estimates ranging from $1.69 billion to $1.77 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover RLJ Lodging Trust.
A number of equities research analysts have recently issued reports on RLJ shares. Zacks Investment Research raised shares of RLJ Lodging Trust from a “sell” rating to a “hold” rating in a research report on Saturday, January 5th. KeyCorp set a $23.00 price objective on RLJ Lodging Trust and gave the company a “buy” rating in a research note on Thursday, December 20th. TheStreet cut RLJ Lodging Trust from a “b-” rating to a “c+” rating in a report on Thursday, January 3rd. Finally, Wells Fargo & Co reissued a “hold” rating on shares of RLJ Lodging Trust in a report on Friday, March 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $22.33.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 7.14%. The ex-dividend date is Thursday, March 28th. RLJ Lodging Trust’s payout ratio is presently 58.41%.
Several hedge funds have recently modified their holdings of the stock. Congress Asset Management Co. MA increased its holdings in shares of RLJ Lodging Trust by 1.8% in the 4th quarter. Congress Asset Management Co. MA now owns 37,988 shares of the real estate investment trust’s stock valued at $623,000 after acquiring an additional 665 shares during the period. Utah Retirement Systems lifted its holdings in shares of RLJ Lodging Trust by 5.8% in the 4th quarter. Utah Retirement Systems now owns 18,207 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 1,000 shares during the period. State of Alaska Department of Revenue increased its stake in shares of RLJ Lodging Trust by 1.8% in the 4th quarter. State of Alaska Department of Revenue now owns 56,715 shares of the real estate investment trust’s stock valued at $929,000 after purchasing an additional 1,022 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of RLJ Lodging Trust by 4.4% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,577 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in RLJ Lodging Trust during the 4th quarter worth approximately $28,000. 98.50% of the stock is owned by hedge funds and other institutional investors.
About RLJ Lodging Trust
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 consists of 150 hotels with approximately 28,600 rooms, located in 25 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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