Citigroup Forecasts Strong Price Appreciation for DiamondRock Hospitality (NYSE:DRH) Stock

DiamondRock Hospitality (NYSE:DRH) had its target price upped by equities researchers at Citigroup from $9.50 to $11.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s target price would indicate a potential upside of 3.14% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. LADENBURG THALM/SH SH started coverage on shares of DiamondRock Hospitality in a report on Thursday, March 26th. They set a “buy” rating and a $12.00 target price for the company. Truist Financial raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $11.00 in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $12.00 in a report on Tuesday, January 13th. Finally, Morgan Stanley lifted their target price on shares of DiamondRock Hospitality from $9.00 to $9.50 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $10.81.

DiamondRock Hospitality Trading Up 0.2%

DRH stock traded up $0.03 during trading on Wednesday, hitting $10.67. The company had a trading volume of 1,069,796 shares, compared to its average volume of 2,414,779. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $9.84 and a 200-day moving average price of $9.29. DiamondRock Hospitality has a 12 month low of $7.31 and a 12 month high of $10.89. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 42.66, a PEG ratio of 4.50 and a beta of 0.99.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The firm had revenue of $274.53 million during the quarter, compared to analysts’ expectations of $273.18 million. During the same quarter in the previous year, the company posted $0.24 EPS. DiamondRock Hospitality’s revenue was down 1.6% on a year-over-year basis. DiamondRock Hospitality has set its FY 2026 guidance at 1.090-1.160 EPS. As a group, analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

Insider Activity

In other news, CAO Steve Spierto sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $9.93, for a total value of $39,720.00. Following the completion of the transaction, the chief accounting officer owned 77,977 shares of the company’s stock, valued at $774,311.61. The trade was a 4.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On DiamondRock Hospitality

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Corp grew its holdings in shares of DiamondRock Hospitality by 54.9% in the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 1,139 shares during the period. ProShare Advisors LLC boosted its stake in DiamondRock Hospitality by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock worth $359,000 after purchasing an additional 1,203 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in DiamondRock Hospitality by 32.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 1,470 shares during the period. EverSource Wealth Advisors LLC boosted its stake in DiamondRock Hospitality by 77.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,498 shares during the period. Finally, Gallacher Capital Management LLC boosted its stake in DiamondRock Hospitality by 5.8% in the 1st quarter. Gallacher Capital Management LLC now owns 27,509 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 1,504 shares during the period.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.