Welcome to our dedicated page for RLJ Lodging Trust news (Ticker: RLJ), a resource for investors and traders seeking the latest updates and insights on RLJ Lodging Trust stock.
RLJ Lodging Trust reports developments as a self-advised, publicly traded real estate investment trust focused on premium-branded, rooms-oriented hotels in urban demand locations. Company updates commonly address hotel revenue, occupancy, average daily rate, RevPAR, Comparable Hotel EBITDA, adjusted EBITDA and adjusted FFO across a geographically diverse lodging portfolio serving business, leisure and other travel demand.
Recurring announcements also cover quarterly earnings schedules, common-share and Series A Preferred Share dividends, dividend tax treatment, renovations and hotel conversions when disclosed, and balance-sheet actions such as revolving credit facilities, unsecured term loans, mortgage refinancing and debt maturity management.
RLJ Lodging Trust (NYSE: RLJ) has announced a $0.01 quarterly cash dividend per common share, payable on January 15, 2021, to shareholders of record by December 31, 2020. Additionally, a dividend of $0.4875 on Series A Preferred Shares will be paid on January 29, 2021, to the same record shareholders. The company primarily invests in premium-branded, high-margin hotels and is navigating challenges posed by the COVID-19 pandemic while discussing potential impacts on business operations in its forward-looking statements.
RLJ Lodging Trust (NYSE: RLJ) announced an amendment to its Senior Unsecured Credit Facilities, extending the waiver period for financial covenants from March 31, 2021, to December 31, 2021. The modification of certain financial covenants will also be extended through Q1 2023. The CEO expressed satisfaction with the flexibility gained during the pandemic and acknowledged the support from lending partners. The terms of the $1.8 billion credit facilities remain mostly unchanged, highlighting the strength of the company's balance sheet and lender relationships.
RLJ Lodging Trust (NYSE: RLJ) reported its financial results for Q3 2020, highlighting that 96 out of 103 hotels are now open, achieving a 29.3% overall occupancy. Despite the ongoing effects of the COVID-19 pandemic, total revenue reached $83.9 million with a net loss of $173.9 million. Adjusted EBITDA was ($19.2) million, while the company maintained a strong liquidity position with approximately $1.0 billion in unrestricted cash. Monthly cash burn estimates were reduced by $2.5 million, now projected between $23.0 million to $27.0 million.
RLJ Lodging Trust (NYSE: RLJ) will report its financial results for the third quarter ending September 30, 2020, on November 4, 2020, post-market. A conference call is scheduled for November 5, 2020, at 11:00 a.m. ET, accessible by calling (877) 407-3982. A replay will be available from 2:00 p.m. on the same day until midnight on November 19, 2020. The Company operates a portfolio of 103 hotels with about 22,570 rooms across 23 states and D.C. Further details are available on RLJ's website.