DiamondRock Hospitality (NYSE:DRH) Hits New 1-Year High – Time to Buy?

Shares of DiamondRock Hospitality Company (NYSE:DRH) hit a new 52-week high during trading on Friday . The company traded as high as $11.66 and last traded at $11.6550, with a volume of 369757 shares changing hands. The stock had previously closed at $11.54.

Wall Street Analyst Weigh In

DRH has been the subject of a number of analyst reports. Truist Financial increased their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Stifel Nicolaus set a $12.25 price objective on shares of DiamondRock Hospitality in a research note on Thursday. LADENBURG THALM/SH SH initiated coverage on shares of DiamondRock Hospitality in a research note on Thursday, March 26th. They issued a “buy” rating and a $12.00 price objective for the company. Morgan Stanley increased their price objective on shares of DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Citigroup increased their price objective on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.43.

DiamondRock Hospitality Trading Up 1.2%

The stock’s 50 day moving average price is $10.34 and its 200-day moving average price is $9.70. 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 stock has a market capitalization of $2.39 billion, a PE ratio of 46.70, a PEG ratio of 4.50 and a beta of 1.00.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.1%. DiamondRock Hospitality’s dividend payout ratio is currently 76.60%.

Insider Buying and Selling at DiamondRock Hospitality

In related news, Director Michael A. Hartmeier sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the transaction, the director owned 95,354 shares in the company, valued at approximately $997,402.84. This represents a 17.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On DiamondRock Hospitality

Several institutional investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP bought a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth about $9,098,000. Centersquare Investment Management LLC lifted its holdings in shares of DiamondRock Hospitality by 6.0% in the 3rd quarter. Centersquare Investment Management LLC now owns 7,536,975 shares of the real estate investment trust’s stock worth $59,994,000 after acquiring an additional 427,467 shares during the last quarter. UBS Group AG lifted its holdings in shares of DiamondRock Hospitality by 49.9% in the 4th quarter. UBS Group AG now owns 2,627,787 shares of the real estate investment trust’s stock worth $23,545,000 after acquiring an additional 874,536 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of DiamondRock Hospitality by 881.7% in the 4th quarter. SG Americas Securities LLC now owns 2,024,790 shares of the real estate investment trust’s stock worth $18,142,000 after acquiring an additional 1,818,527 shares during the last quarter. Finally, Lighthouse Investment Partners LLC lifted its holdings in shares of DiamondRock Hospitality by 35.2% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 825,000 shares of the real estate investment trust’s stock worth $6,567,000 after acquiring an additional 215,000 shares during the last quarter.

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.