DiamondRock Hospitality (NYSE:DRH) Issues Earnings Results

DiamondRock Hospitality (NYSE:DRH) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.17, Zacks reports. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%.

DiamondRock Hospitality Stock Performance

Shares of DRH stock remained flat at $14.52 on Tuesday. The stock had a trading volume of 4,457,874 shares, compared to its average volume of 2,561,097. The company’s fifty day moving average price is $12.82 and its 200-day moving average price is $11.33. DiamondRock Hospitality has a 12 month low of $7.86 and a 12 month high of $14.67. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 58.08, a P/E/G ratio of 4.50 and a beta of 1.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Barclays boosted their price objective on shares of DiamondRock Hospitality from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 27th. Truist Financial increased their price target on shares of DiamondRock Hospitality from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Stifel Nicolaus lifted their price target on DiamondRock Hospitality from $12.50 to $13.25 and gave the company a “hold” rating in a research note on Friday, July 31st. Finally, Bank of America upped their price target on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.03.

About DiamondRock Hospitality

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resort properties in the United States. The company focuses on lodging real estate in leisure destinations and gateway markets, with properties serving business travelers, vacationers, and group customers.

DiamondRock’s portfolio includes hotels operated under nationally recognized brands as well as independent and boutique properties. Its business activities include acquiring, owning, leasing, and strategically managing hospitality real estate, while day-to-day hotel operations are generally carried out by third-party management companies and brand operators.

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