DiamondRock Hospitality Company (NYSE:DRH) Receives Consensus Rating of “Hold” from Analysts

DiamondRock Hospitality Company (NYSE:DRH) has received a consensus rating of “Hold” from the eleven analysts that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $12.1250.

A number of equities research analysts have recently commented on DRH shares. Bank of America raised their target price on DiamondRock Hospitality from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Truist Financial upped their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. LADENBURG THALM/SH SH boosted their price objective on DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Finally, Morgan Stanley boosted their price objective on DiamondRock Hospitality from $9.60 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th.

DiamondRock Hospitality Stock Up 0.5%

DRH opened at $13.14 on Thursday. The company has a fifty day moving average of $11.96 and a two-hundred day moving average of $10.57. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 52.56, a PEG ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality has a fifty-two week low of $7.45 and a fifty-two week high of $13.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.

Insiders Place Their Bets

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the transaction, the director directly owned 95,354 shares in the company, valued at approximately $997,402.84. This represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Merrill sold 20,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the transaction, the director directly owned 84,335 shares in the company, valued at approximately $1,001,899.80. The trade was a 19.17% 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 company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in DiamondRock Hospitality by 223.2% in the 1st quarter. AQR Capital Management LLC now owns 65,376 shares of the real estate investment trust’s stock worth $505,000 after buying an additional 45,146 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of DiamondRock Hospitality by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust’s stock valued at $955,000 after acquiring an additional 5,971 shares during the last quarter. United Services Automobile Association acquired a new position in shares of DiamondRock Hospitality during the first quarter valued at approximately $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of DiamondRock Hospitality by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock valued at $10,251,000 after acquiring an additional 48,558 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of DiamondRock Hospitality in the second quarter valued at approximately $99,000.

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.