DiamondRock Hospitality (NYSE:DRH) Given New $10.00 Price Target at Truist Financial

DiamondRock Hospitality (NYSE:DRH) had its target price increased by investment analysts at Truist Financial from $9.00 to $10.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price indicates a potential upside of 14.61% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Morgan Stanley decreased their price target on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, October 22nd. Evercore ISI lifted their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research note on Thursday, November 20th. Finally, Wells Fargo & Company boosted their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.38.

DiamondRock Hospitality Trading Down 1.9%

Shares of NYSE:DRH traded down $0.17 during trading on Thursday, reaching $8.73. 352,904 shares of the stock were exchanged, compared to its average volume of 2,846,877. The firm’s 50-day moving average price is $8.28 and its 200 day moving average price is $8.06. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 34.82, a price-to-earnings-growth ratio of 4.50 and a beta of 1.04. DiamondRock Hospitality has a 12-month low of $6.18 and a 12-month high of $9.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64.

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 (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The company had revenue of $285.38 million during the quarter, compared to the consensus estimate of $277.45 million. During the same period in the previous year, the firm earned $0.27 earnings per share. DiamondRock Hospitality’s revenue for the quarter was up .1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. On average, sell-side analysts anticipate that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DRH. State Street Corp increased its holdings in shares of DiamondRock Hospitality by 0.8% in the 2nd quarter. State Street Corp now owns 12,587,578 shares of the real estate investment trust’s stock valued at $97,400,000 after acquiring an additional 93,929 shares during the last quarter. Bank of America Corp DE boosted its holdings in DiamondRock Hospitality by 17.5% in the second quarter. Bank of America Corp DE now owns 9,231,991 shares of the real estate investment trust’s stock worth $70,717,000 after purchasing an additional 1,377,897 shares during the period. Alyeska Investment Group L.P. increased its stake in DiamondRock Hospitality by 5.5% during the third quarter. Alyeska Investment Group L.P. now owns 9,152,343 shares of the real estate investment trust’s stock valued at $72,853,000 after purchasing an additional 475,611 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of 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 worth $67,295,000 after buying an additional 181,610 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in shares of DiamondRock Hospitality by 6.0% in the 3rd quarter. Centersquare Investment Management LLC now owns 7,536,975 shares of the real estate investment trust’s stock valued at $59,994,000 after buying an additional 427,467 shares during the period.

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.