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

RLJ Lodging Trust (NYSE:RLJGet Free Report) 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 Up 2.4 %

Shares of NYSE RLJ traded up $0.23 during mid-day trading on Friday, reaching $9.72. The company had a trading volume of 2,443,134 shares, compared to its average volume of 1,403,553. 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 stock has a market cap of $1.51 billion, a P/E ratio of 33.52, a PEG ratio of 0.89 and a beta of 1.70. The firm has a 50 day simple moving average of $9.23 and a two-hundred day simple moving average of $9.58. RLJ Lodging Trust has a 52-week low of $8.74 and a 52-week high of $12.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com lowered shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday. Truist Financial cut their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Compass Point lowered RLJ Lodging Trust from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $10.00 in a research report on Monday, August 5th. Wells Fargo & Company lowered RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $11.00 to $9.00 in a report on Friday, September 13th. Finally, Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Three investment 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’s stock. Based on data from MarketBeat, RLJ Lodging Trust currently has a consensus rating of “Hold” and a consensus target price of $11.71.

View Our Latest Stock Report on RLJ

RLJ Lodging Trust Company Profile

(Get Free Report)

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.

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