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RLJ Lodging Trust announces $0.10 quarterly dividend

RLJ Lodging Trust (NYSE: RLJ) said last week its Board of Directors had authorized a regular quarterly cash dividend of $0.10 per share of common stock.

The dividend was kept unchanged from the previous quarterly dividend payment.

The dividend will be paid on July 15th to shareholders of record as of the close of business on June 28th 2024, the company said.

Stock Performance

The shares of RLJ Lodging Trust (RLJ) closed 2.15% ($0.21) lower at $9.57 in New York on Friday. It has been the steepest single-session loss since May 8th.

The company’s total market cap now stands at $1.499 billion.

The shares of RLJ Lodging Trust (RLJ) went up 10.67% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).

The company’s shares have retreated 18.34% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 4 out of 6 surveyed investment analysts had rated RLJ Lodging Trust’s stock as “Buy”, while 2 – as “Hold”. The median price target on the stock stands at $14.10, which translates into a 47.34% upside compared to the closing price on Friday.

The high point of the analyst forecast range stands at $18.00.

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