DiamondRock Hospitality (NYSE:DRH) Stock Price Up 5.5% – Here’s What Happened

DiamondRock Hospitality (NYSE:DRH)’s share price rose 5.5% during trading on Tuesday . The company traded as high as $9.91 and last traded at $9.85. Approximately 901,120 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 1,863,051 shares. The stock had previously closed at $9.34.

Analysts Set New Price Targets

DRH has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target on the stock. in a research note on Friday, November 15th. Wells Fargo & Company lowered their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Truist Financial lowered their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.13.

DiamondRock Hospitality Stock Down 1.5 %

The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $9.00 and a two-hundred day simple moving average of $8.60. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 34.25, a P/E/G ratio of 5.44 and a beta of 1.60.

Institutional Investors Weigh In On DiamondRock Hospitality

Institutional investors have recently added to or reduced their stakes in the stock. MQS Management LLC acquired a new stake in DiamondRock Hospitality during the second quarter valued at approximately $480,000. Millennium Management LLC acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter worth approximately $15,118,000. Louisiana State Employees Retirement System boosted its holdings in shares of DiamondRock Hospitality by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after acquiring an additional 1,900 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of DiamondRock Hospitality by 199.2% in the 3rd quarter. Intech Investment Management LLC now owns 82,739 shares of the real estate investment trust’s stock worth $722,000 after acquiring an additional 55,086 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of DiamondRock Hospitality by 161.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 475,900 shares of the real estate investment trust’s stock worth $4,021,000 after acquiring an additional 294,044 shares in the last quarter.

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.