DiamondRock Hospitality (NYSE:DRH) Sees Strong Trading Volume

Shares of DiamondRock Hospitality (NYSE:DRH) saw unusually-strong trading volume on Monday . Approximately 2,597,899 shares changed hands during trading, an increase of 64% from the previous session’s volume of 1,581,820 shares.The stock last traded at $9.45 and had previously closed at $9.28.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DRH shares. Wolfe Research started coverage on DiamondRock Hospitality in a research note on Wednesday, January 10th. They set an “outperform” rating and a $11.00 target price on the stock. Truist Financial lifted their target price on DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. StockNews.com downgraded DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Wells Fargo & Company lifted their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, December 22nd. Finally, Stifel Nicolaus lifted their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. One 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 company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.30.

DiamondRock Hospitality Trading Down 3.4 %

The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $9.39 and a 200-day simple moving average of $8.93. The firm has a market cap of $1.89 billion, a P/E ratio of 24.97 and a beta of 1.60.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The firm 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 business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. On average, equities research analysts expect that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Wednesday, March 27th. DiamondRock Hospitality’s dividend payout ratio is currently 33.33%.

Hedge Funds Weigh In On DiamondRock Hospitality

Several large investors have recently modified their holdings of DRH. JPMorgan Chase & Co. increased its position in shares of DiamondRock Hospitality by 133.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,720,222 shares of the real estate investment trust’s stock valued at $38,376,000 after purchasing an additional 2,697,132 shares during the last quarter. Norges Bank purchased a new position in DiamondRock Hospitality during the 4th quarter valued at $16,550,000. Goldman Sachs Group Inc. boosted its holdings in DiamondRock Hospitality by 92.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,072,464 shares of the real estate investment trust’s stock valued at $32,620,000 after acquiring an additional 1,957,524 shares during the period. Balyasny Asset Management L.P. boosted its holdings in DiamondRock Hospitality by 989.5% during the 1st quarter. Balyasny Asset Management L.P. now owns 2,126,866 shares of the real estate investment trust’s stock valued at $17,291,000 after acquiring an additional 1,931,649 shares during the period. Finally, State Street Corp boosted its holdings in DiamondRock Hospitality by 12.9% during the 1st quarter. State Street Corp now owns 13,538,478 shares of the real estate investment trust’s stock valued at $136,739,000 after acquiring an additional 1,548,369 shares during the period.

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.