DiamondRock Hospitality (NYSE:DRH) Receives $9.92 Consensus PT from Analysts

DiamondRock Hospitality (NYSE:DRH) has been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $9.92.

Several analysts have recently weighed in on DRH shares. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Monday, August 5th. Wells Fargo & Company cut their price target on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Truist Financial lowered their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th.

DiamondRock Hospitality Stock Performance

DRH stock opened at $9.05 on Monday. The company has a market capitalization of $1.90 billion, a P/E ratio of 25.14, a PEG ratio of 4.07 and a beta of 1.60. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The company has a 50-day simple moving average of $8.39 and a 200 day simple moving average of $8.67. DiamondRock Hospitality has a fifty-two week low of $7.33 and a fifty-two week high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). The company had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. Sell-side analysts predict that DiamondRock Hospitality will post 0.98 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 2,423 shares in the last quarter. Quadrant Capital Group LLC grew its position in DiamondRock Hospitality by 195.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 2,204 shares in the last quarter. Quarry LP increased its stake in DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 3,769 shares during the period. Headlands Technologies LLC acquired a new stake in shares of DiamondRock Hospitality during the 2nd quarter valued at $42,000. Finally, Choreo LLC acquired a new stake in DiamondRock Hospitality during the second quarter valued at $89,000.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.