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

RLJ Lodging Trust (NYSE:RLJ) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.450-1.580 for the period, compared to the consensus 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 Trading Up 2.4 %

Shares of RLJ Lodging Trust stock traded up $0.23 during mid-day trading 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 price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 0.89 and a beta of 1.70. RLJ Lodging Trust has a twelve month low of $8.74 and a twelve month high of $12.39. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.12. The company has a 50-day simple moving average of $9.23 and a 200 day simple moving average of $9.58.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RLJ shares. Wells Fargo & Company cut RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $11.00 to $9.00 in a report on Friday, September 13th. StockNews.com downgraded shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday. Wolfe Research cut shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Bank of America dropped their price target on shares of RLJ Lodging Trust from $12.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, July 22nd. Finally, Truist Financial cut their price target on shares of RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.