RLJ Lodging Trust (NYSE:RLJ) Releases FY 2024 Earnings Guidance

RLJ Lodging Trust (NYSE:RLJ) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.450-1.580 for the period, compared to the consensus EPS estimate of 1.510. The company issued revenue guidance of -. RLJ Lodging Trust also updated its FY24 guidance to $1.45-$1.58 EPS.

RLJ Lodging Trust Price Performance

RLJ Lodging Trust stock traded up $0.23 during trading hours on Friday, hitting $9.72. 2,443,134 shares of the stock were exchanged, compared to its average volume of 1,403,553. The stock has a market capitalization of $1.51 billion, a P/E ratio of 33.52, a P/E/G ratio of 0.89 and a beta of 1.70. The business’s 50-day moving average is $9.23 and its two-hundred day moving average is $9.58. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.60 and a current ratio of 2.60. RLJ Lodging Trust has a 12 month low of $8.74 and a 12 month high of $12.39.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RLJ shares. Truist Financial cut their price target on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, October 28th. Wolfe Research downgraded shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. 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 note on Monday, August 5th. StockNews.com lowered shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Wells Fargo & Company downgraded RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $11.00 to $9.00 in a report on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.71.

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 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.