DiamondRock Hospitality (NYSE:DRH) Issues Quarterly Earnings Results, Beats Expectations By $0.17 EPS

DiamondRock Hospitality (NYSE:DRH) issued its earnings results on Tuesday. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.17, Zacks reports. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH remained flat at $14.52 during trading on Tuesday. 4,456,174 shares of the stock were exchanged, compared to its average volume of 2,561,097. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 58.08, a PEG ratio of 4.50 and a beta of 1.04. The business’s 50-day simple moving average is $12.82 and its two-hundred day simple moving average is $11.33. DiamondRock Hospitality has a fifty-two week low of $7.86 and a fifty-two week high of $14.67. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DRH shares. Citigroup upped their price target on DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Morgan Stanley lifted their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, October 12th. Truist Financial boosted their target price on shares of DiamondRock Hospitality from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Barclays upped their target price on shares of DiamondRock Hospitality from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 27th. Finally, Wells Fargo & Company upped their target price on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, October 26th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, DiamondRock Hospitality presently has an average rating of “Hold” and an average target price of $13.03.

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.