earnings
confidence high
sentiment positive
materiality 0.75
RLJ Lodging Trust Q2 2021: Net loss narrows to $52.2M; acquires Atlanta hotel, issues $500M bonds
RLJ Lodging Trust
2021-Q2 EPS reported
-$0.87
revenue$313,806,000
- Net loss of $52.2M ($0.35 per share) vs $116.2M loss in Q2 2020; Adjusted FFO per diluted share $0.07.
- Total revenue $194.3M; pro forma occupancy 57.9%, ADR $142 (75% of 2019 levels).
- Acquired newly-built Hampton Inn & Suites Atlanta Midtown for $58M; issued $500M senior notes at 3.750% due 2026.
- Sold two non-core hotels in Q2 and three in Q3 for total $35.1M; cash $658M, liquidity over $1B.
- Declared $0.01 common dividend; no forward guidance due to pandemic uncertainty.