RLJ Stock Recent News

RLJ Lodging Trust's preferred stock offers a 7.5% yield, down from 8.1%, but remains attractive thanks to the safety of its dividend and potential Fed rate cuts. The REIT owns 96 premium-branded hotels, has recovered from the pandemic, and maintains a healthy balance sheet, ensuring the preferred dividend's safety. The preferred dividend is well-covered with a 9.3 coverage ratio, and the REIT is unlikely to eliminate its common dividend, even in a recession.

RLJ Lodging is a hotel REIT managing 96 premium-branded urban-centric hotels, with the largest markets being Los Angeles/Anaheim and Washington, DC. The REIT has substantially underperformed the Vanguard Real Estate Index Fund ETF so far in 2024, delivering a 19% loss. The Q2 2024 results were mixed as robust RevPAR growth was offset by elevated expense growth, ultimately resulting in lower Adjusted FFO.

The headline numbers for RLJ Lodging (RLJ) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

RLJ Lodging (RLJ) came out with quarterly funds from operations (FFO) of $0.51 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to FFO of $0.56 per share a year ago.

BETHESDA, Md.--(BUSINESS WIRE)--RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that its Board of Trustees has declared a quarterly cash dividend of $0.10 per common share of beneficial interest. The dividend is payable on July 15, 2024, to shareholders of record as of June 28, 2024. The Board of Trustees also declared a quarterly cash dividend of $0.4875 on the Company's Series A Preferred Shares. The dividend is payable on July 31, 2024, to shareholders of record as of June 28,.

RLJ Lodging Trust's preferred shares are attractive as they cannot be easily called by the issuer. The preferred dividends are well-covered, with a payout ratio of just over 10%. The balance sheet of RLJ Lodging Trust is strong, with a low LTV ratio and sufficient common equity.

BETHESDA, Md.--(BUSINESS WIRE)--RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced it will report financial results for the second quarter ended June 30, 2024, after the markets close on August 1, 2024. The Company will also host a conference call on August 2, 2024, at 10:00 a.m. (Eastern Time). The Company recommends that you dial in approximately 10 minutes before the call. The conference call can be accessed by dialing (877) 407-3982 or (201) 493-6780 for international participant.

The headline numbers for RLJ Lodging (RLJ) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

RLJ Lodging Trust owns 97 hotels, with a focus on urban hotels in the Sunbelt region. RevPAR grew 9.2% in 2023, with a further increase of 4% expected for 2024. Adjusted FFO per share increased 22.1% in 2023 but is expected to be marginally lower in 2024 on higher interest rates.

RLJ Lodging Trust's Q4 results showed robust FFO and AFFO performance, with an increase in revenue per available room and occupancy. The company's net interest expenses decreased, resulting in a significant expansion of AFFO per share. RLJ Lodging Trust's 'busted' preferred shares offer an attractive fixed yield of 7.75% and have a strong margin of safety based on the balance sheet.