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 earnings per share guidance of 1.450-1.580 for the period, compared to the consensus earnings per share 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 Stock Performance

Shares of RLJ stock traded up $0.23 during mid-day trading on Friday, hitting $9.72. The stock had a trading volume of 2,443,134 shares, compared to its average volume of 1,403,553. The firm has a market cap of $1.51 billion, a PE ratio of 33.52, a PEG ratio of 0.89 and a beta of 1.70. The company’s 50-day simple moving average is $9.23 and its 200-day simple moving average is $9.58. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.60 and a quick ratio of 2.60. RLJ Lodging Trust has a fifty-two week low of $8.74 and a fifty-two week high of $12.39.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial lowered their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Bank of America dropped their price objective on RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating on the stock in a report on Monday, July 22nd. Wolfe Research downgraded RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Compass Point cut shares of RLJ Lodging Trust from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $10.00 in a research note on Monday, August 5th. Finally, StockNews.com downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.