RLJ Lodging Trust reports Q3 adjusted FFO 40c, consensus 35c

Reports Q3 revenue $345.74M, consensus $343.14M. “We are pleased with our third quarter results which were ahead of our expectations. We achieved RevPAR growth that was two times the industry and demonstrated the resiliency of our urban centric portfolio,” commented Leslie D. Hale, President and Chief Executive Officer. “In addition to achieving solid operating results, we executed on multiple key initiatives during the quarter including addressing all of our near-term maturities, completing two valuable conversions, accretively recycling non-core disposition proceeds to repurchase stock, raising our quarterly dividend by 50%, and reaffirming our outlook. All of these demonstrate our commitment to unlocking value while enhancing shareholder returns.”