DiamondRock Hospitality (NYSE:DRH) Stock Price Crosses Above Two Hundred Day Moving Average Following Analyst Downgrade

DiamondRock Hospitality Company (NYSE:DRH) passed above its two hundred day moving average during trading on Monday after Truist Financial raised their price target on the stock from $12.00 to $15.00. The stock has a two hundred day moving average of $11.43 and traded as high as $12.70. Truist Financial currently has a buy rating on the stock. DiamondRock Hospitality shares last traded at $12.64, with a volume of 2,212,727 shares.

Several other research analysts have also recently weighed in on DRH. Wells Fargo & Company upped their price objective on DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Morgan Stanley boosted their target price on DiamondRock Hospitality from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. LADENBURG THALM/SH SH upped their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Bank of America raised their price target on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Barclays lifted their price objective on shares of DiamondRock Hospitality from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, August 27th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.82.

Institutional Trading of DiamondRock Hospitality

A number of hedge funds and other institutional investors have recently modified their holdings of DRH. BlackRock Inc. acquired a new position in DiamondRock Hospitality during the second quarter valued at approximately $475,282,000. Bank of America Corp DE acquired a new position in shares of DiamondRock Hospitality during the 2nd quarter worth approximately $129,710,000. Centersquare Investment Management LLC raised its stake in shares of DiamondRock Hospitality by 3.2% during the 4th quarter. Centersquare Investment Management LLC now owns 7,780,988 shares of the real estate investment trust’s stock worth $69,718,000 after purchasing an additional 244,013 shares in the last quarter. Cohen & Steers Inc. bought a new stake in shares of DiamondRock Hospitality during the 4th quarter worth approximately $59,231,000. Finally, SG Americas Securities LLC boosted its holdings in shares of DiamondRock Hospitality by 106.1% in the 1st quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust’s stock valued at $39,098,000 after buying an additional 2,147,881 shares during the last quarter.

DiamondRock Hospitality Trading Down 0.3%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a fifty day moving average price of $12.52 and a 200 day moving average price of $11.45. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 49.66, a P/E/G ratio of 4.50 and a beta of 0.97.

DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.22. The business had revenue of $318.29 million for the quarter, compared to the consensus estimate of $314.98 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. As a group, equities analysts predict that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 3.5%. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.09. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 60.27%.

About DiamondRock Hospitality

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resorts in the United States. The company focuses on lodging properties in locations that appeal to business and leisure travelers, including gateway cities, destination resorts and other high-demand markets.

DiamondRock’s properties operate under a combination of nationally recognized hotel brands and independent or company-developed concepts. Its portfolio includes full-service hotels, lifestyle properties and resort accommodations, with services such as guest rooms, restaurants, meeting and event facilities, recreational amenities and other hospitality offerings.

The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.