DiamondRock Hospitality (NYSE:DRH) Receives Average Recommendation of “Hold” from Analysts

DiamondRock Hospitality (NYSE:DRH) has received an average recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $10.30.

A number of equities research analysts have recently weighed in on DRH shares. StockNews.com lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Truist Financial lifted their target price on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. Stifel Nicolaus lifted their target price on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Wolfe Research assumed coverage on shares of DiamondRock Hospitality in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 target price on the stock.

DiamondRock Hospitality Trading Up 2.2 %

Shares of DiamondRock Hospitality stock opened at $9.15 on Friday. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99. The firm has a market cap of $1.93 billion, a PE ratio of 25.42 and a beta of 1.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.00 and a quick ratio of 2.00. The company has a 50 day simple moving average of $9.37 and a two-hundred day simple moving average of $8.96.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The business had revenue of $263.50 million during the quarter, compared to the consensus estimate of $261.45 million. DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Wednesday, March 27th. DiamondRock Hospitality’s payout ratio is currently 33.33%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its position in DiamondRock Hospitality by 101.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 132,028 shares of the real estate investment trust’s stock valued at $1,060,000 after purchasing an additional 66,388 shares during the period. Public Employees Retirement System of Ohio increased its position in DiamondRock Hospitality by 7.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 306,213 shares of the real estate investment trust’s stock valued at $2,459,000 after purchasing an additional 22,438 shares during the period. Invesco Ltd. increased its position in DiamondRock Hospitality by 3.1% during the 3rd quarter. Invesco Ltd. now owns 5,455,648 shares of the real estate investment trust’s stock valued at $43,809,000 after purchasing an additional 165,142 shares during the period. Diversified Trust Co increased its position in DiamondRock Hospitality by 4.2% during the 3rd quarter. Diversified Trust Co now owns 52,385 shares of the real estate investment trust’s stock valued at $421,000 after purchasing an additional 2,108 shares during the period. Finally, Bamco Inc. NY purchased a new position in DiamondRock Hospitality during the 3rd quarter valued at $3,866,000.

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.