DiamondRock Hospitality (NYSE:DRH) Given Average Recommendation of “Hold” by Brokerages

DiamondRock Hospitality (NYSE:DRH) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.30.

Several research firms have weighed in on DRH. StockNews.com lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Truist Financial upped their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Stifel Nicolaus upped their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a report on Friday, February 23rd. Wells Fargo & Company upped their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, December 22nd. Finally, Wolfe Research initiated coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 price objective on the stock.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in DiamondRock Hospitality by 9.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,193 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 1,130 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in DiamondRock Hospitality by 8.8% during the 4th quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 1,181 shares in the last quarter. LPL Financial LLC lifted its holdings in DiamondRock Hospitality by 10.2% during the 2nd quarter. LPL Financial LLC now owns 13,698 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 1,266 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in DiamondRock Hospitality by 10.8% during the 1st quarter. Mackenzie Financial Corp now owns 13,036 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 1,272 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of DiamondRock Hospitality by 1.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 127,027 shares of the real estate investment trust’s stock valued at $1,043,000 after purchasing an additional 1,485 shares during the last quarter.

DiamondRock Hospitality Price Performance

Shares of NYSE DRH opened at $8.78 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.85 billion, a PE ratio of 24.39 and a beta of 1.60. The company has a 50-day moving average of $9.38 and a 200 day moving average of $8.93. DiamondRock Hospitality has a 12-month low of $7.33 and a 12-month high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.14). The firm had revenue of $263.50 million during the quarter, compared to analyst estimates of $261.45 million. DiamondRock Hospitality had a net margin of 8.03% and a return on equity of 5.29%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, sell-side analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.37%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 33.33%.

DiamondRock Hospitality Company Profile

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.