RLJ Lodging Trust (NYSE:RLJ) Issues FY24 Earnings Guidance

RLJ Lodging Trust (NYSE:RLJ) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.45-$1.58 for the period, compared to the consensus estimate of $1.50. RLJ Lodging Trust also updated its FY 2024 guidance to 1.450-1.580 EPS.

RLJ Lodging Trust Trading Up 5.1 %

Shares of RLJ stock traded up $0.45 during trading hours on Wednesday, hitting $9.34. The company had a trading volume of 3,089,711 shares, compared to its average volume of 1,389,307. RLJ Lodging Trust has a fifty-two week low of $8.74 and a fifty-two week high of $12.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60. The company’s fifty day moving average is $9.23 and its 200 day moving average is $9.61. The stock has a market capitalization of $1.45 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 0.84 and a beta of 1.70.

Wall Street Analyst Weigh In

RLJ has been the subject of several research reports. StockNews.com downgraded RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday. Bank of America dropped their price objective on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a report on Monday, July 22nd. Compass Point cut shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $10.00 in a research report on Monday, August 5th. Truist Financial dropped their price target on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Wells Fargo & Company cut RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $11.00 to $9.00 in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.71.

RLJ Lodging Trust Company Profile

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 currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.