RLJ Lodging Trust Declares $0.15 Quarterly Common Dividend
RLJ Lodging Trust, a hotel-focused real estate investment trust, declared a quarterly cash dividend of $0.15 per common share for the fourth quarter of 2025. The company also declared a $0.4875 quarterly dividend on its Series A Preferred Shares.
RLJ Lodging Trust (NYSE: RLJ), a real estate investment trust that owns select-service and extended-stay hotels, declared a quarterly cash dividend of $0.15 per common share for the fourth quarter of 2025. The dividend was paid on January 15, 2026 to shareholders of record as of December 31, 2025. Read more dividend announcements.
The company's Board of Trustees also declared a quarterly cash dividend of $0.4875 on its Series A Preferred Shares for the fourth quarter. That dividend was paid on January 30, 2026 to shareholders of record as of December 31, 2025.
| Security Type | Amount per Share | Record Date | Payment Date |
|---|---|---|---|
| Common Shares | $0.15 | December 31, 2025 | January 15, 2026 |
| Series A Preferred | $0.4875 | December 31, 2025 | January 30, 2026 |
Portfolio Activity and Share Repurchases
During 2025, RLJ Lodging Trust sold two hotels for $49.5 million, representing a 16.3 times multiple on 2025 Hotel EBITDA, including required capital expenditures. The company repurchased 3.3 million shares for approximately $28.6 million during the year. The share repurchase program currently has approximately $245.7 million of remaining capacity.
Balance Sheet and Refinancing
As of December 31, 2025, the company had over $1.0 billion of total liquidity, comprising approximately $410.2 million of unrestricted cash and $600.0 million available under its revolving credit facility. Total debt outstanding stood at $2.2 billion.
In December, the company paid down $26.3 million of mortgage debt using proceeds from dispositions. In February 2026, RLJ completed a refinancing of all debt maturities through 2028, consisting of four tranches including an extension of its revolving credit facility, the upsize and recast of an existing term loan, a new seven-year term loan, and the refinancing of secured debt maturing in 2026. The company intends to use incremental delayed draw proceeds from the term loans to repay its $500.0 million senior notes maturing in July 2026. Following these transactions, the company's next debt maturity is not until 2029.
2026 Outlook
RLJ Lodging Trust provided its annual outlook for all hotels owned as of February 26, 2026. The company projects comparable revenue per available room growth of 0.5% to 3.0% for full year 2026. Comparable Hotel EBITDA is expected to range from $344.0 million to $374.0 million, with Adjusted EBITDA between $312.0 million and $342.0 million.
Adjusted funds from operations per diluted share is projected at $1.21 to $1.41. The outlook includes net interest expense of $101.0 million to $103.0 million, cash corporate general and administrative expenses of $32.5 million to $33.5 million, and capital expenditures related to renovations of $80.0 million to $90.0 million. Diluted weighted average common shares and units are estimated at 150.8 million.