DiamondRock Hospitality (NYSE:DRH) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of DiamondRock Hospitality Company (NYSE:DRH) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $11.78 and traded as high as $13.55. DiamondRock Hospitality shares last traded at $13.46, with a volume of 2,913,768 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DRH. Citigroup lifted their target price on DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Barclays raised their price target on DiamondRock Hospitality from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Stifel Nicolaus boosted their price objective on DiamondRock Hospitality from $12.50 to $13.25 and gave the company a “hold” rating in a research report on Friday, July 31st. Truist Financial upped their price objective on DiamondRock Hospitality from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Finally, Morgan Stanley upped their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, October 12th. 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, the company presently has an average rating of “Hold” and an average price target of $12.93.

DiamondRock Hospitality Stock Up 1.1%

The stock has a market cap of $2.85 billion, a P/E ratio of 55.76, a price-to-earnings-growth ratio of 4.50 and a beta of 1.01. 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 stock’s 50-day moving average is $12.52 and its 200-day moving average is $11.82.

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

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.11 per share. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 3.2%. DiamondRock Hospitality’s payout ratio is 60.27%.

Institutional Trading of DiamondRock Hospitality

Several institutional investors have recently modified their holdings of DRH. Global Retirement Partners LLC bought a new stake in DiamondRock Hospitality during the second quarter worth approximately $50,000. Allworth Financial LP bought a new position in shares of DiamondRock Hospitality in the second quarter valued at $59,000. Farther Finance Advisors LLC increased its holdings in shares of DiamondRock Hospitality by 155.2% in the third quarter. Farther Finance Advisors LLC now owns 5,549 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 3,375 shares in the last quarter. Nykredit A S acquired a new stake in shares of DiamondRock Hospitality during the 2nd quarter valued at $81,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of DiamondRock Hospitality during the 2nd quarter valued at $84,000.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resort properties in the United States. The company focuses on lodging real estate in leisure destinations and gateway markets, with properties serving business travelers, vacationers, and group customers.

DiamondRock’s portfolio includes hotels operated under nationally recognized brands as well as independent and boutique properties. Its business activities include acquiring, owning, leasing, and strategically managing hospitality real estate, while day-to-day hotel operations are generally carried out by third-party management companies and brand operators.

The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.