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RLJ Lodging Trust reports Q4 adjusted FFO 33c, consensus 31c
The Fly

RLJ Lodging Trust reports Q4 adjusted FFO 33c, consensus 31c

Reports Q4 revenue $302.2M, consensus $304.05M. "We were pleased that the strengthening lodging fundamentals we saw throughout last year, especially in Urban markets, carried into the fourth quarter," commented Leslie D. Hale, President and Chief Executive Officer. "Relative to this improving backdrop, we successfully executed on our key initiatives, including capturing the recovery in Urban markets, launching all three of our conversions and entering the growth market of Nashville. We achieved these priorities while strengthening our balance sheet and returning capital to our shareholders through thoughtful share repurchases and dividend raises, including our most recent dividend raise of 60% beginning with this quarter. While the current environment remains uncertain, the continuing improvement in business travel, group booking momentum and the ongoing recovery in Urban leisure gives us confidence that Urban markets will continue to outperform the industry on a relative basis this year, which will benefit our Urban-centric portfolio."

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