LADENBURG THALM/SH SH Forecasts Strong Price Appreciation for DiamondRock Hospitality (NYSE:DRH) Stock

DiamondRock Hospitality (NYSE:DRH) had its price objective lifted by research analysts at LADENBURG THALM/SH SH from $13.00 to $14.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s target price would indicate a potential upside of 14.43% from the company’s previous close.

A number of other brokerages also recently issued reports on DRH. Stifel Nicolaus set a $12.25 price objective on DiamondRock Hospitality in a research report on Thursday, June 4th. Truist Financial lifted their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Barclays upped their target price on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Wells Fargo & Company increased their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Finally, Citigroup lifted their price objective on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.65.

DiamondRock Hospitality Trading Up 3.1%

Shares of DRH stock traded up $0.36 on Thursday, hitting $12.23. 1,146,547 shares of the stock traded hands, compared to its average volume of 2,251,636. The firm’s 50-day moving average price is $10.76 and its two-hundred day moving average price is $9.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $2.50 billion, a PE ratio of 48.90, a PEG ratio of 4.50 and a beta of 1.00. DiamondRock Hospitality has a twelve month low of $7.45 and a twelve month high of $12.33.

Insider Buying and Selling

In other DiamondRock Hospitality news, Director Kathleen Merrill sold 20,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $11.88, for a total transaction of $237,600.00. Following the sale, the director owned 84,335 shares in the company, valued at approximately $1,001,899.80. This represents a 19.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Hartmeier sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total transaction of $209,200.00. Following the sale, the director directly owned 95,354 shares in the company, valued at $997,402.84. This represents a 17.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of DiamondRock Hospitality

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in DiamondRock Hospitality by 7.2% during the first quarter. Bank of America Corp DE now owns 8,987,338 shares of the real estate investment trust’s stock worth $84,211,000 after buying an additional 606,962 shares during the period. Janus Henderson Group PLC increased its stake in shares of DiamondRock Hospitality by 10.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,312,694 shares of the real estate investment trust’s stock valued at $12,299,000 after acquiring an additional 119,921 shares during the last quarter. Amundi lifted its holdings in shares of DiamondRock Hospitality by 30.9% during the 1st quarter. Amundi now owns 191,306 shares of the real estate investment trust’s stock worth $1,793,000 after acquiring an additional 45,198 shares during the period. California State Teachers Retirement System boosted its position in shares of DiamondRock Hospitality by 30.2% in the first quarter. California State Teachers Retirement System now owns 249,084 shares of the real estate investment trust’s stock worth $2,334,000 after acquiring an additional 57,774 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of DiamondRock Hospitality by 43.2% in the first quarter. Quantinno Capital Management LP now owns 82,542 shares of the real estate investment trust’s stock worth $773,000 after acquiring an additional 24,889 shares during the last quarter.

DiamondRock Hospitality Company Profile

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.