Fintel reports that on September 15, 2023, Truist Securities maintained coverage of RLJ Lodging Trust (NYSE:RLJ) with a Buy recommendation.
Analyst Price Forecast Suggests 43.97% Upside
As of August 31, 2023, the average one-year price target for RLJ Lodging Trust is 14.15. The forecasts range from a low of 11.11 to a high of $18.90. The average price target represents an increase of 43.97% from its latest reported closing price of 9.83.
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The projected annual revenue for RLJ Lodging Trust is 1,381MM, an increase of 6.87%. The projected annual non-GAAP EPS is 0.40.
RLJ Lodging Trust Declares $0.10 Dividend
On August 3, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of September 30, 2023 will receive the payment on October 17, 2023. Previously, the company paid $0.08 per share.
At the current share price of $9.83 / share, the stock's dividend yield is 4.07%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.07%, the lowest has been 0.23%, and the highest has been 20.50%. The standard deviation of yields is 3.38 (n=236).
The current dividend yield is 0.30 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.81. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 9.00%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 458 funds or institutions reporting positions in RLJ Lodging Trust. This is an increase of 2 owner(s) or 0.44% in the last quarter. Average portfolio weight of all funds dedicated to RLJ is 0.17%, a decrease of 17.06%. Total shares owned by institutions decreased in the last three months by 1.05% to 166,638K shares. 
The put/call ratio of RLJ is 1.25, indicating a bearish outlook.
What are Other Shareholders Doing?
Goldman Sachs Group holds 7,285K shares representing 4.70% ownership of the company. In it's prior filing, the firm reported owning 7,660K shares, representing a decrease of 5.14%. The firm increased its portfolio allocation in RLJ by 199.52% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 7,123K shares representing 4.59% ownership of the company. In it's prior filing, the firm reported owning 7,259K shares, representing a decrease of 1.91%. The firm decreased its portfolio allocation in RLJ by 12.63% over the last quarter.
H holds 6,304K shares representing 4.06% ownership of the company. No change in the last quarter.
Jpmorgan Chase holds 5,026K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 4,783K shares, representing an increase of 4.82%. The firm increased its portfolio allocation in RLJ by 623.15% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,790K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 4,695K shares, representing an increase of 1.97%. The firm decreased its portfolio allocation in RLJ by 8.81% over the last quarter.
RLJ Lodging Trust Background Information
(This description is provided by the company.)
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 consists of 101 hotels with approximately 22,400 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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