RLJ Lodging Trust - RLJ STOCK NEWS

RLJ Lodging Trust (NYSE: RLJ) has declared a quarterly cash dividend of $0.01 per common share, payable on January 18, 2022, to shareholders of record as of December 31, 2021. Additionally, a cash dividend of $0.4875 on Series A Preferred Shares has been approved, payable on January 31, 2022. The company owns a portfolio of 97 hotels, comprising approximately 22,100 rooms across 22 states and the District of Columbia, indicating a robust presence in the hospitality sector.

RLJ Lodging Trust (NYSE: RLJ) reported its third quarter results, highlighting the acquisition of two hotels: AC Hotel Boston Downtown and Hampton Inn & Suites Atlanta Midtown. The company issued $500 million in senior secured notes at 4.0%, redeeming $475 million in 6.0% FelCor bonds. The total revenue was $233.8 million with a net loss of $151.8 million. The portfolio achieved 61.5% occupancy rate. RLJ's high-quality properties benefited from a continued recovery in lodging demand, contributing to positive cash flow during the quarter.

RLJ Lodging Trust has acquired the AC Hotel by Marriott Boston Downtown for $89 million, or $434,000 per key. This hotel, opened in 2018, is situated in Boston's vibrant Ink Block development. Expected to yield 7.5% to 8.0% NOI upon stabilization, this acquisition enhances RLJ's portfolio in a high-demand lodging market. Funded by existing cash, the deal aligns with RLJ's strategy to acquire premium-branded hotels in growth areas. Boston's burgeoning life sciences and technology sectors position the hotel well for future success.

RLJ Lodging Trust (NYSE: RLJ) will announce its third-quarter financial results on November 4, 2021, after market close. A conference call is scheduled for November 5, 2021, at 11:00 a.m. Eastern Time. Participants should dial in 10 minutes prior to the start. A replay will be available from 2:00 p.m. on November 5 until midnight on November 19, 2021. RLJ Lodging Trust primarily invests in premium-branded hotels, operating 97 properties with 22,100 rooms across 23 states and the District of Columbia.

RLJ Lodging Trust (NYSE: RLJ) has amended its corporate credit facilities to include a one-year extension option for approximately $225 million of its $319 million Term Loans maturing in January 2023. This extension will provide flexibility to acquire hotels, increasing the acquisition basket from $300 million to $450 million. With over $1.0 billion in liquidity, RLJ is positioned for growth, as stated by CEO Leslie D. Hale.

RLJ Lodging Trust (NYSE: RLJ) has declared a quarterly cash dividend of $0.01 per common share, payable on October 15, 2021, to shareholders of record by September 30, 2021. Additionally, a quarterly cash dividend of $0.4875 on Series A Preferred Shares will be paid on October 29, 2021. The company operates 97 hotels with approximately 22,100 rooms in the United States and the District of Columbia, indicating a diversified portfolio in the lodging sector.

RLJ Lodging Trust has announced the pricing of its $500 million offering of 4.000% senior secured notes due 2029. This offering will yield interest payments semi-annually and is secured by a first priority interest in specific equity holdings. Proceeds from the offering are intended to redeem existing 6.000% senior notes due 2025 from subsidiary FelCor Lodging Limited Partnership. The offering is expected to close on September 13, 2021, subject to customary conditions.

RLJ Lodging Trust (NYSE: RLJ) announced plans to offer $500 million in senior secured notes due 2029. These notes will be backed by the Company and certain subsidiaries. Proceeds from the offering will be used to redeem all outstanding 6.000% senior notes due 2025 of its subsidiary, FelCor Lodging Limited Partnership, along with any redemption premiums and related expenses. The offering is exempt from registration under the Securities Act and is intended for qualified institutional buyers. Forward-looking statements regarding potential impacts of COVID-19 and economic uncertainties are included.

RLJ Lodging Trust (NYSE: RLJ) reported financial results for the second quarter of 2021, highlighting total revenue of $194.3 million and a net loss of $52.2 million. The company achieved a portfolio occupancy of 57.9%, driven by strong leisure demand and improving business transient sectors. Notably, RLJ acquired a new Hampton Inn & Suites in Atlanta for $58 million and raised $500 million through senior notes. Despite a net loss per share of $0.35, the company maintains a robust balance sheet with $658 million in unrestricted cash and over $1 billion in total liquidity.