RLJ Lodging Trust (NYSE:RLJ) Expected to Post Quarterly Sales of $245.22 Million

Wall Street brokerages expect RLJ Lodging Trust (NYSE:RLJ) to post sales of $245.22 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for RLJ Lodging Trust’s earnings. The lowest sales estimate is $218.05 million and the highest is $303.00 million. RLJ Lodging Trust posted sales of $91.08 million during the same quarter last year, which indicates a positive year-over-year growth rate of 169.2%. The firm is expected to issue its next earnings results on Thursday, February 24th.

According to Zacks, analysts expect that RLJ Lodging Trust will report full year sales of $780.17 million for the current financial year, with estimates ranging from $765.62 million to $801.05 million. For the next year, analysts expect that the business will report sales of $1.22 billion, with estimates ranging from $1.10 billion to $1.39 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow RLJ Lodging Trust.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Thursday, November 4th. The real estate investment trust reported ($0.94) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($1.08). RLJ Lodging Trust had a negative return on equity of 16.47% and a negative net margin of 57.05%. The firm had revenue of $233.80 million during the quarter, compared to analysts’ expectations of $231.67 million. During the same period last year, the company earned ($0.32) earnings per share. The business’s revenue for the quarter was up 178.7% compared to the same quarter last year.

RLJ has been the topic of a number of research reports. Robert W. Baird raised shares of RLJ Lodging Trust from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $17.00 to $18.00 in a research note on Friday. Zacks Investment Research downgraded shares of RLJ Lodging Trust from a “buy” rating to a “hold” rating in a research report on Thursday, November 4th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, RLJ Lodging Trust has an average rating of “Buy” and a consensus price target of $18.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP raised its stake in shares of RLJ Lodging Trust by 38.7% in the first quarter. First Trust Advisors LP now owns 197,863 shares of the real estate investment trust’s stock worth $3,476,000 after purchasing an additional 55,224 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of RLJ Lodging Trust by 125.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 204,215 shares of the real estate investment trust’s stock valued at $3,589,000 after acquiring an additional 113,786 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of RLJ Lodging Trust in the second quarter valued at approximately $181,000. Teacher Retirement System of Texas grew its holdings in shares of RLJ Lodging Trust by 17.3% in the second quarter. Teacher Retirement System of Texas now owns 21,870 shares of the real estate investment trust’s stock valued at $333,000 after acquiring an additional 3,232 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of RLJ Lodging Trust by 14.9% in the second quarter. Sei Investments Co. now owns 43,791 shares of the real estate investment trust’s stock valued at $668,000 after acquiring an additional 5,677 shares in the last quarter. Hedge funds and other institutional investors own 92.31% of the company’s stock.

RLJ stock traded up $0.17 during midday trading on Friday, hitting $14.73. 1,501,087 shares of the stock traded hands, compared to its average volume of 1,148,549. The stock’s fifty day simple moving average is $13.72 and its 200-day simple moving average is $14.24. RLJ Lodging Trust has a 1-year low of $11.92 and a 1-year high of $17.51. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 1.15.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Friday, December 31st will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. RLJ Lodging Trust’s dividend payout ratio is currently -1.69%.

About RLJ Lodging Trust

RLJ Lodging Trust is a real estate investment trust, which engages in the ownership and acquisition of hotels. It operates through the following hotel brands: Embassy Suites, Marriott, Hilton, Hyatt House, Hyatt Place, Hilton Garden Inn, Wyndham, Renaissance, Fairfield Inn & Suites, Holiday Inn Express, Sleep Inn, Hampton Inn, Hotel Indigo, IHG, SpringHill Suites, Hyatt Centric, and Homewood Suites.

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