DiamondRock Hospitality Company (DRH) – What Are Brokerages Thinking About This Stock?

DiamondRock Hospitality Company (NYSE:DRH) has received a consensus recommendation of “Hold” from the eleven research firms that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $13.03.

Several equities analysts have recently commented on the stock. Truist Financial upped their price objective on shares of DiamondRock Hospitality from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Bank of America raised their target price on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Zacks Research downgraded DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Wells Fargo & Company upped their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. Finally, Barclays upped their price objective on DiamondRock Hospitality from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock opened at $14.04 on Friday. 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 business’s fifty day moving average price is $12.94 and its 200 day moving average price is $11.43. DiamondRock Hospitality has a twelve month low of $8.18 and a twelve month high of $14.72. The stock has a market capitalization of $2.87 billion, a P/E ratio of 56.16, a PEG ratio of 4.50 and a beta of 1.04.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Tuesday, November 3rd. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $297.60 million for the quarter, compared to the consensus estimate of $292.08 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. As a group, research analysts anticipate that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

Institutional Trading of DiamondRock Hospitality

A number of hedge funds have recently modified their holdings of DRH. Russell Investments Group Ltd. raised its holdings in shares of DiamondRock Hospitality by 2.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 987,990 shares of the real estate investment trust’s stock worth $12,212,000 after acquiring an additional 22,514 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of DiamondRock Hospitality during the 3rd quarter worth $25,000. Maryland State Retirement & Pension System boosted its stake in shares of DiamondRock Hospitality by 53.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 45,911 shares of the real estate investment trust’s stock valued at $567,000 after buying an additional 15,956 shares during the period. Ritholtz Wealth Management purchased a new position in DiamondRock Hospitality during the 3rd quarter worth approximately $373,000. Finally, Illinois Municipal Retirement Fund raised its position in DiamondRock Hospitality by 4.9% in the third quarter. Illinois Municipal Retirement Fund now owns 106,997 shares of the real estate investment trust’s stock worth $1,322,000 after acquiring an additional 4,967 shares in the last quarter.

About DiamondRock Hospitality

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.