Analysts Set DiamondRock Hospitality (NYSE:DRH) PT at $9.92

DiamondRock Hospitality (NYSE:DRH) has received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat 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 issued a report on the stock in the last year is $9.92.

Several brokerages have issued reports on DRH. Truist Financial cut their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Wells Fargo & Company cut their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, August 5th.

Institutional Trading of DiamondRock Hospitality

A number of institutional investors and hedge funds have recently modified their holdings of the business. Centersquare Investment Management LLC increased its position in DiamondRock Hospitality by 40.3% in the first quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock worth $56,103,000 after buying an additional 1,810,788 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of DiamondRock Hospitality by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock worth $26,214,000 after acquiring an additional 120,228 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of DiamondRock Hospitality by 1.7% in the second quarter. Victory Capital Management Inc. now owns 2,618,538 shares of the real estate investment trust’s stock worth $22,127,000 after acquiring an additional 43,050 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of DiamondRock Hospitality by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust’s stock worth $17,585,000 after acquiring an additional 25,154 shares during the period. Finally, Millennium Management LLC bought a new position in shares of DiamondRock Hospitality in the second quarter worth $15,118,000.

DiamondRock Hospitality Trading Up 1.0 %

Shares of DRH stock opened at $8.90 on Friday. DiamondRock Hospitality has a 1-year low of $7.33 and a 1-year 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. The stock has a 50-day moving average of $8.54 and a 200-day moving average of $8.60. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 4.27 and a beta of 1.60.

DiamondRock Hospitality (NYSE:DRH) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.22). DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The business had revenue of $309.28 million for the quarter, compared to the consensus estimate of $301.77 million. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that DiamondRock Hospitality will post 0.98 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality’s payout ratio is 33.33%.

About DiamondRock Hospitality

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.