DiamondRock Hospitality (NYSE:DRH) Price Target Raised to $10.00

DiamondRock Hospitality (NYSE:DRH) had its price objective lifted by analysts at Morgan Stanley from $9.60 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective indicates a potential downside of 18.93% from the stock’s previous close.

A number of other brokerages also recently issued reports on DRH. Barclays boosted their price target on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Citigroup upped their price objective on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Stifel Nicolaus set a $12.25 target price on shares of DiamondRock Hospitality in a research report on Thursday, June 4th. Finally, LADENBURG THALM/SH SH boosted their target price on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.69.

DiamondRock Hospitality Stock Performance

DRH traded up $0.06 during midday trading on Friday, hitting $12.34. 782,265 shares of the company were exchanged, compared to its average volume of 2,299,747. The company’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $10.33. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality has a 1-year low of $7.45 and a 1-year high of $12.54. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

Insider Buying and Selling

In other DiamondRock Hospitality news, Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the transaction, the director directly owned 84,335 shares of the company’s stock, valued at $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael A. Hartmeier sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total transaction of $209,200.00. Following the sale, the director owned 95,354 shares of the company’s stock, valued at $997,402.84. This represents a 17.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP increased its stake in DiamondRock Hospitality by 146.0% during the fourth quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 1,697 shares during the last quarter. First Horizon Corp grew its holdings in shares of DiamondRock Hospitality by 54.9% during the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,139 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of DiamondRock Hospitality by 77.3% during 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. Danske Bank A S acquired a new stake in shares of DiamondRock Hospitality during the 3rd quarter worth about $33,000. Finally, Global Retirement Partners LLC increased its position in shares of DiamondRock Hospitality by 12,114.7% during the 4th quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 4,119 shares during the last quarter.

About DiamondRock Hospitality

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.