DiamondRock Hospitality (NYSE:DRH) Given Consensus Rating of “Moderate Buy” by Analysts

DiamondRock Hospitality (NYSE:DRH) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.92.

A number of brokerages recently issued reports on DRH. Wells Fargo & Company dropped their price objective on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. 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. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, August 5th.

Institutional Trading of DiamondRock Hospitality

Large investors have recently modified their holdings of the stock. Quarry LP grew its position in shares of 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 worth $33,000 after buying an additional 3,769 shares during the period. Headlands Technologies LLC acquired a new stake in DiamondRock Hospitality in the 2nd quarter valued at $42,000. Choreo LLC acquired a new stake in DiamondRock Hospitality in the 2nd quarter valued at $89,000. SG Americas Securities LLC acquired a new stake in DiamondRock Hospitality in the 3rd quarter valued at $100,000. Finally, LDR Capital Management LLC grew its position in DiamondRock Hospitality by 25.5% in the 1st quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 2,692 shares during the period.

DiamondRock Hospitality Stock Up 1.0 %

DRH stock opened at $8.81 on Friday. The firm has a 50-day moving average price of $8.52 and a 200-day moving average price of $8.60. The stock has a market capitalization of $1.85 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 4.43 and a beta of 1.60. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The business 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 firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. As a group, equities research analysts anticipate that DiamondRock Hospitality will post 0.98 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed 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. This represents a $0.12 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 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.