DiamondRock Hospitality Company (NYSE:DRH) Given Average Rating of “Hold” by Brokerages

Shares of DiamondRock Hospitality Company (NYSE:DRH) have received an average rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.6071.

DRH has been the topic of several research reports. Barclays initiated coverage on shares of DiamondRock Hospitality in a report on Tuesday, January 6th. They set an “equal weight” rating and a $10.00 price objective on the stock. Wells Fargo & Company lifted their price target on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, December 1st. 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. Morgan Stanley dropped their price objective on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 22nd. Finally, Truist Financial upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $11.00 in a research note on Friday.

Institutional Investors Weigh In On DiamondRock Hospitality

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in shares of DiamondRock Hospitality by 0.5% during the second quarter. Public Employees Retirement System of Ohio now owns 298,326 shares of the real estate investment trust’s stock worth $2,285,000 after purchasing an additional 1,578 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in DiamondRock Hospitality by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 295,567 shares of the real estate investment trust’s stock worth $2,353,000 after buying an additional 1,792 shares during the last quarter. Lazard Asset Management LLC grew its stake in DiamondRock Hospitality by 3.1% during the 3rd quarter. Lazard Asset Management LLC now owns 60,199 shares of the real estate investment trust’s stock worth $479,000 after buying an additional 1,806 shares during the last quarter. M&T Bank Corp increased its position in DiamondRock Hospitality by 9.4% during the 2nd quarter. M&T Bank Corp now owns 21,298 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 1,833 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in DiamondRock Hospitality by 2.7% in the second quarter. Daiwa Securities Group Inc. now owns 72,809 shares of the real estate investment trust’s stock valued at $558,000 after buying an additional 1,880 shares during the last quarter.

DiamondRock Hospitality Stock Performance

DRH stock opened at $9.25 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The business has a 50-day moving average price of $8.97 and a 200 day moving average price of $8.34. The company has a market capitalization of $1.88 billion, a P/E ratio of 37.00, a PEG ratio of 4.50 and a beta of 1.03. DiamondRock Hospitality has a 1-year low of $6.18 and a 1-year high of $9.44.

DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The company had revenue of $285.38 million for the quarter, compared to analysts’ expectations of $277.45 million. During the same period in the prior year, the business earned $0.27 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. As a group, equities research analysts forecast that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.5%. DiamondRock Hospitality’s payout ratio is presently 128.00%.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.