Analysts Set DiamondRock Hospitality Company (NYSE:DRH) Target Price at $9.38

Shares of DiamondRock Hospitality Company (NYSE:DRH) have received an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.4643.

Several analysts have commented on DRH shares. Barclays initiated coverage on shares of DiamondRock Hospitality in a report on Tuesday. They issued an “equal weight” rating and a $10.00 price objective for the company. Evercore ISI raised their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research note on Thursday, November 20th. Morgan Stanley reduced their price target on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 22nd. Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, December 1st. Finally, Truist Financial boosted their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, December 4th.

Hedge Funds Weigh In On DiamondRock Hospitality

Several large investors have recently made changes to their positions in DRH. Danske Bank A S purchased a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth approximately $33,000. State of Wyoming bought a new stake in DiamondRock Hospitality in the second quarter worth $58,000. Smartleaf Asset Management LLC grew its stake in shares of DiamondRock Hospitality by 33.8% in the second quarter. Smartleaf Asset Management LLC now owns 9,294 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 2,349 shares during the last quarter. Profund Advisors LLC bought a new position in shares of DiamondRock Hospitality during the second quarter valued at $79,000. Finally, GAMMA Investing LLC raised its position in shares of DiamondRock Hospitality by 372.6% in the 2nd quarter. GAMMA Investing LLC now owns 10,927 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 8,615 shares during the last quarter.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock opened at $9.16 on Friday. The business has a 50 day moving average of $8.94 and a 200 day moving average of $8.33. DiamondRock Hospitality has a 52 week low of $6.18 and a 52 week high of $9.42. The company has a market cap of $1.87 billion, a PE ratio of 36.64, a P/E/G ratio of 4.50 and a beta of 1.03. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The business had revenue of $285.38 million for the quarter, compared to the consensus estimate of $277.45 million. During the same period in the previous year, the firm earned $0.27 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. As a group, equities research analysts forecast that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.32 annualized dividend and a yield of 3.5%. DiamondRock Hospitality’s payout ratio is presently 128.00%.

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.