Analysts Set DiamondRock Hospitality Company (NYSE:DRH) PT at $8.88

Shares of DiamondRock Hospitality Company (NYSE:DRH) have earned an average rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.8750.

Several brokerages recently weighed in on DRH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Wells Fargo & Company raised DiamondRock Hospitality to a “hold” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley dropped their target price on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 22nd.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $8.77 on Friday. The company has a market cap of $1.79 billion, a P/E ratio of 35.06, a PEG ratio of 4.37 and a beta of 1.38. The company has a fifty day simple moving average of $8.14 and a 200 day simple moving average of $7.98. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality has a 12-month low of $6.18 and a 12-month high of $10.00.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $285.38 million for the quarter, compared to the consensus estimate of $277.45 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. Sell-side analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of hedge funds have recently bought and sold shares of the company. Cbre Investment Management Listed Real Assets LLC increased its position in DiamondRock Hospitality by 66.7% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,748,875 shares of the real estate investment trust’s stock worth $21,221,000 after buying an additional 1,100,070 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of DiamondRock Hospitality during the 1st quarter worth $395,000. American Century Companies Inc. increased its holdings in DiamondRock Hospitality by 150.1% in the 1st quarter. American Century Companies Inc. now owns 132,649 shares of the real estate investment trust’s stock worth $1,024,000 after acquiring an additional 79,620 shares during the last quarter. Pzena Investment Management LLC raised its stake in DiamondRock Hospitality by 2.1% in the 2nd quarter. Pzena Investment Management LLC now owns 8,785,278 shares of the real estate investment trust’s stock valued at $67,295,000 after acquiring an additional 181,610 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in DiamondRock Hospitality during the first quarter valued at about $2,401,000.

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.