DiamondRock Hospitality (NYSE:DRH) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of DiamondRock Hospitality (NYSE:DRH) from a sell rating to a hold rating in a research report report published on Friday morning.

A number of other research firms also recently commented on DRH. Truist Financial raised their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a hold rating in a report on Thursday, March 14th. Stifel Nicolaus lifted their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a buy rating in a research report on Friday, February 23rd. Finally, Wolfe Research assumed coverage on shares of DiamondRock Hospitality in a research report on Wednesday, January 10th. They issued an outperform rating and a $11.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $10.30.

DiamondRock Hospitality Trading Down 0.2 %

NYSE DRH opened at $8.82 on Friday. The company has a 50-day moving average of $9.32 and a 200-day moving average of $9.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.04 and a quick ratio of 2.00. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99. The company has a market cap of $1.86 billion, a P/E ratio of 24.49 and a beta of 1.61.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The company had revenue of $263.50 million for the quarter, compared to analysts’ expectations of $261.45 million. DiamondRock Hospitality had a return on equity of 5.20% and a net margin of 7.86%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. As a group, equities analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a $0.03 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.36%. DiamondRock Hospitality’s payout ratio is currently 33.33%.

Institutional Trading of DiamondRock Hospitality

A number of hedge funds and other institutional investors have recently made changes to their positions in DRH. Pzena Investment Management LLC lifted its position in shares of DiamondRock Hospitality by 9.1% during the third quarter. Pzena Investment Management LLC now owns 9,720,155 shares of the real estate investment trust’s stock worth $78,053,000 after purchasing an additional 810,972 shares during the last quarter. Invesco Ltd. raised its position in shares of DiamondRock Hospitality by 3.1% during the 3rd quarter. Invesco Ltd. now owns 5,455,648 shares of the real estate investment trust’s stock valued at $43,809,000 after acquiring an additional 165,142 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in DiamondRock Hospitality by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,516,452 shares of the real estate investment trust’s stock worth $42,409,000 after purchasing an additional 190,136 shares during the period. Centersquare Investment Management LLC increased its stake in DiamondRock Hospitality by 17.0% during the fourth quarter. Centersquare Investment Management LLC now owns 4,492,910 shares of the real estate investment trust’s stock valued at $42,188,000 after purchasing an additional 652,095 shares during the last quarter. Finally, Northern Trust Corp increased its stake in DiamondRock Hospitality by 2.3% during the third quarter. Northern Trust Corp now owns 3,291,311 shares of the real estate investment trust’s stock valued at $26,429,000 after purchasing an additional 73,745 shares during the last quarter.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.