Wells Fargo & Company Issues Positive Forecast for DiamondRock Hospitality (NYSE:DRH) Stock Price

DiamondRock Hospitality (NYSE:DRH) had its price target hoisted by Wells Fargo & Company from $10.00 to $11.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

DRH has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a research note on Tuesday, January 13th. LADENBURG THALM/SH SH started coverage on DiamondRock Hospitality in a report on Thursday, March 26th. They issued a “buy” rating and a $12.00 price target for the company. Morgan Stanley lifted their price objective on DiamondRock Hospitality from $9.00 to $9.50 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Truist Financial raised DiamondRock Hospitality from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $11.00 in a research note on Friday, January 9th. Finally, Barclays assumed coverage on DiamondRock Hospitality in a report on Tuesday, January 6th. They issued an “equal weight” rating and a $10.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.36.

DiamondRock Hospitality Trading Down 2.1%

DRH stock opened at $10.09 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality has a 12-month low of $7.02 and a 12-month high of $10.67. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 4.50 and a beta of 0.99. The business’s 50-day moving average is $9.78 and its 200 day moving average is $9.16.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The company had revenue of $274.53 million for the quarter, compared to analysts’ expectations of $273.18 million. During the same period in the previous year, the firm posted $0.24 EPS. DiamondRock Hospitality’s revenue was down 1.6% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2026 guidance at 1.090-1.160 EPS. On average, sell-side analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, March 31st. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.08. DiamondRock Hospitality’s dividend payout ratio is presently 81.82%.

Insider Activity at DiamondRock Hospitality

In other news, CAO Steve Spierto sold 4,000 shares of DiamondRock Hospitality stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $9.93, for a total transaction of $39,720.00. Following the sale, the chief accounting officer owned 77,977 shares of the company’s stock, valued at approximately $774,311.61. The trade was a 4.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On DiamondRock Hospitality

Large investors have recently modified their holdings of the business. 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. ProShare Advisors LLC raised its holdings in DiamondRock Hospitality by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 1,203 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in DiamondRock Hospitality by 32.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 1,470 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in DiamondRock Hospitality by 77.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,498 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in shares of DiamondRock Hospitality by 3.6% during the fourth quarter. Metis Global Partners LLC now owns 48,193 shares of the real estate investment trust’s stock valued at $432,000 after acquiring an additional 1,667 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.