DiamondRock Hospitality (NYSE:DRH) Announces Quarterly Earnings Results

DiamondRock Hospitality (NYSE:DRH) posted its earnings results on Thursday. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04, Zacks reports. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.03%. The firm had revenue of $285.38 million during the quarter, compared to analysts’ expectations of $277.45 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. DiamondRock Hospitality updated its FY 2025 guidance to 1.020-1.06 EPS.

DiamondRock Hospitality Trading Up 9.1%

Shares of NYSE:DRH traded up $0.75 during mid-day trading on Friday, reaching $8.96. 6,495,791 shares of the company’s stock were exchanged, compared to its average volume of 3,227,301. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 1.30. DiamondRock Hospitality has a twelve month low of $6.18 and a twelve month high of $10.00. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 35.82 and a beta of 1.38. The business’s fifty day moving average price is $8.06 and its 200-day moving average price is $7.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming bought a new stake in shares of DiamondRock Hospitality in the 2nd quarter valued at about $58,000. Smartleaf Asset Management LLC lifted its stake in shares of DiamondRock Hospitality by 33.8% in the second quarter. Smartleaf Asset Management LLC now owns 9,294 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 2,349 shares during the period. United Services Automobile Association acquired a new position in shares of DiamondRock Hospitality in the first quarter worth approximately $91,000. Captrust Financial Advisors bought a new stake in DiamondRock Hospitality in the second quarter valued at approximately $98,000. Finally, Creative Planning acquired a new stake in DiamondRock Hospitality during the 2nd quarter valued at approximately $99,000.

Analyst Upgrades and Downgrades

DRH has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of DiamondRock Hospitality in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded DiamondRock Hospitality to a “hold” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, DiamondRock Hospitality presently has an average rating of “Hold” and a consensus price target of $8.88.

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.