DiamondRock Hospitality (NYSE:DRH) Issues Quarterly Earnings Results, Misses Estimates By $0.22 EPS

DiamondRock Hospitality (NYSE:DRH) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.22), Zacks reports. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The firm had revenue of $309.28 million during the quarter, compared to analyst estimates of $301.77 million. During the same period in the prior year, the company posted $0.32 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. DiamondRock Hospitality updated its FY 2024 guidance to 0.950-1.000 EPS.

DiamondRock Hospitality Price Performance

Shares of DRH remained flat at $8.09 during midday trading on Friday. The company’s stock had a trading volume of 4,483,656 shares, compared to its average volume of 2,103,640. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99. The company has a market capitalization of $1.70 billion, a PE ratio of 22.47, a PEG ratio of 4.75 and a beta of 1.60. The business has a fifty day simple moving average of $8.33 and a 200 day simple moving average of $8.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.04 and a current ratio of 2.04.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, June 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.30.

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.