DiamondRock Hospitality (NYSE:DRH) Price Target Raised to $10.00

DiamondRock Hospitality (NYSE:DRH) had its target price hoisted by research analysts at Truist Financial from $9.00 to $10.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price would suggest a potential upside of 14.61% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Morgan Stanley reduced their price objective on 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. Wells Fargo & Company raised their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Evercore ISI boosted their price target on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “in-line” rating in a research report on Thursday, November 20th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.38.

DiamondRock Hospitality Stock Performance

DRH traded down $0.17 during trading on Thursday, reaching $8.73. 352,904 shares of the company were exchanged, compared to its average volume of 2,846,877. DiamondRock Hospitality has a 52 week low of $6.18 and a 52 week high of $9.85. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $8.28 and a 200 day moving average of $8.06. The stock has a market cap of $1.78 billion, a P/E ratio of 34.82, a PEG ratio of 4.50 and a beta of 1.04.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $285.38 million during the quarter, compared to the consensus estimate of $277.45 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. On average, sell-side analysts forecast that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On DiamondRock Hospitality

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new position in DiamondRock Hospitality during the 3rd quarter valued at $175,000. Danske Bank A S acquired a new stake in shares of DiamondRock Hospitality in the third quarter valued at $33,000. CANADA LIFE ASSURANCE Co boosted its stake in DiamondRock Hospitality by 4.7% during the third quarter. CANADA LIFE ASSURANCE Co now owns 494,912 shares of the real estate investment trust’s stock valued at $3,993,000 after buying an additional 22,417 shares in the last quarter. Caxton Associates LLP bought a new position in DiamondRock Hospitality during the third quarter valued at about $2,094,000. Finally, Alyeska Investment Group L.P. grew its holdings in DiamondRock Hospitality by 5.5% during the third quarter. Alyeska Investment Group L.P. now owns 9,152,343 shares of the real estate investment trust’s stock worth $72,853,000 after acquiring an additional 475,611 shares during the period.

About DiamondRock Hospitality

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.