DiamondRock Hospitality (NYSE:DRH) Reaches New 1-Year High – Here’s What Happened

DiamondRock Hospitality Company (NYSE:DRH) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.08 and last traded at $13.07, with a volume of 1660792 shares traded. The stock had previously closed at $12.91.

Analyst Ratings Changes

DRH has been the topic of several recent analyst reports. Morgan Stanley increased their price objective on shares of DiamondRock Hospitality from $9.60 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Stifel Nicolaus set a $12.25 target price on shares of DiamondRock Hospitality in a research note on Thursday, June 4th. LADENBURG THALM/SH SH increased their price target on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Truist Financial raised their price target on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, Citigroup boosted their price objective on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.12.

DiamondRock Hospitality Price Performance

The firm has a fifty day moving average of $12.00 and a 200 day moving average of $10.60. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.64 billion, a P/E ratio of 51.64, a P/E/G ratio of 4.50 and a beta of 0.98.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.22. The business had revenue of $318.29 million for the quarter, compared to analysts’ expectations of $314.98 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. On average, equities research analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.4%. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.09. The ex-dividend date is Wednesday, September 30th. DiamondRock Hospitality’s payout ratio is currently 76.60%.

Insider Buying and Selling

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

Institutional Trading of DiamondRock Hospitality

Several large investors have recently modified their holdings of the company. Allworth Financial LP increased its position 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 valued at $26,000 after acquiring an additional 1,697 shares during the last quarter. First Horizon Corp grew its stake 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 valued at $29,000 after purchasing an additional 1,139 shares during the period. EverSource Wealth Advisors LLC grew its stake 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 valued at $31,000 after purchasing an additional 1,498 shares during the period. Danske Bank A S purchased a new stake in shares of DiamondRock Hospitality during the 3rd quarter valued at 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 valued at $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.