DiamondRock Hospitality (NYSE:DRH) Receives Average Rating of “Moderate Buy” from Analysts

DiamondRock Hospitality (NYSE:DRH) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Three investment 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 brokers that have issued a report on the stock in the last year is $9.92.

A number of research firms have weighed in on DRH. Wells Fargo & Company cut their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Truist Financial decreased their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Monday, August 5th. Finally, StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th.

Hedge Funds Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently modified their holdings of the stock. Evergreen Capital Management LLC boosted its position in DiamondRock Hospitality by 14.4% in the second quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 1,810 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of DiamondRock Hospitality by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock valued at $893,000 after acquiring an additional 1,900 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of DiamondRock Hospitality by 6.7% in the 2nd quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 2,028 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of DiamondRock Hospitality by 195.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 2,204 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,423 shares during the last quarter.

DiamondRock Hospitality Stock Down 0.5 %

DiamondRock Hospitality stock opened at $9.05 on Monday. 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 has a 1-year low of $7.33 and a 1-year high of $9.99. The firm’s fifty day simple moving average is $8.39 and its 200-day simple moving average is $8.67. The company has a market capitalization of $1.90 billion, a P/E ratio of 25.14, a P/E/G ratio of 4.07 and a beta of 1.60.

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

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Monday, September 30th. DiamondRock Hospitality’s dividend 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.