DiamondRock Hospitality (NYSE:DRH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of DiamondRock Hospitality (NYSE:DRH) have been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $9.92.

A number of analysts have commented on DRH shares. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Truist Financial decreased their target price on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company dropped their price target on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Monday, August 5th.

Hedge Funds Weigh In On DiamondRock Hospitality

Several large investors have recently modified their holdings of the business. Parallel Advisors LLC grew its position in shares of DiamondRock Hospitality by 313.5% in the fourth quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,423 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in DiamondRock Hospitality by 195.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 2,204 shares in the last quarter. Quarry LP grew its holdings in DiamondRock Hospitality by 2,093.9% during the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 3,769 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of DiamondRock Hospitality during the second quarter valued at about $42,000. Finally, Choreo LLC purchased a new stake in shares of DiamondRock Hospitality in the second quarter worth about $89,000.

DiamondRock Hospitality Trading Up 0.8 %

DRH opened at $8.52 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. DiamondRock Hospitality has a fifty-two week low of $7.33 and a fifty-two week high of $9.99. The company’s 50 day moving average price is $8.34 and its two-hundred day moving average price is $8.68. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 4.07 and a beta of 1.60.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The firm had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 earnings per share. As a group, research analysts predict that DiamondRock Hospitality will post 0.98 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.03 per share. The ex-dividend date is Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.41%. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

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.