DiamondRock Hospitality Company (NYSE:DRH) Receives $9.38 Average Price Target from Analysts

Shares of DiamondRock Hospitality Company (NYSE:DRH) have received an average rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.3750.

Several analysts have commented on DRH shares. Truist Financial raised their price objective on DiamondRock Hospitality from $9.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, December 1st. Evercore ISI upped their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “in-line” rating in a research report on Thursday, November 20th. Finally, Morgan Stanley dropped their target price on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 22nd.

DiamondRock Hospitality Stock Up 2.0%

DRH stock opened at $9.24 on Wednesday. DiamondRock Hospitality has a one year low of $6.18 and a one year high of $9.82. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The firm’s fifty day moving average is $8.41 and its 200 day moving average is $8.13. The firm has a market cap of $1.88 billion, a PE ratio of 36.96, a P/E/G ratio of 4.50 and a beta of 1.04.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The business had revenue of $285.38 million for the quarter, compared to analyst estimates of $277.45 million. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. On average, research analysts forecast that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, December 31st. DiamondRock Hospitality’s payout ratio is 128.00%.

Hedge Funds Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently made changes to their positions in the company. Danske Bank A S purchased a new stake in shares of DiamondRock Hospitality during the third quarter worth approximately $33,000. State of Wyoming acquired a new stake in DiamondRock Hospitality during the 2nd quarter worth $58,000. Smartleaf Asset Management LLC grew its holdings in shares of DiamondRock Hospitality by 33.8% during the second quarter. Smartleaf Asset Management LLC now owns 9,294 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 2,349 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of DiamondRock Hospitality in the second quarter valued at about $79,000. Finally, DRW Securities LLC purchased a new position in shares of DiamondRock Hospitality in the first quarter worth about $84,000.

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.