DiamondRock Hospitality (NYSE:DRH) Upgraded to Buy at Truist Financial

Truist Financial upgraded shares of DiamondRock Hospitality (NYSE:DRH) from a hold rating to a buy rating in a research note issued to investors on Friday, Marketbeat.com reports. They currently have $11.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $10.00.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Evercore ISI increased their price target 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 objective on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 22nd. Barclays started coverage on shares of DiamondRock Hospitality in a report on Tuesday. They issued an “equal weight” rating and a $10.00 price objective on the stock. Finally, Wells Fargo & Company raised 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 note on Monday, December 1st. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.61.

DiamondRock Hospitality Stock Performance

Shares of DRH stock opened at $9.25 on Friday. The company has a fifty day moving average price of $8.97 and a two-hundred day moving average price of $8.34. DiamondRock Hospitality has a one year low of $6.18 and a one year high of $9.44. The stock has a market cap of $1.88 billion, a P/E ratio of 37.00, a P/E/G ratio of 4.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick 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 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 for the quarter, compared to analyst estimates of $277.45 million. During the same period in the previous year, the business earned $0.27 EPS. DiamondRock Hospitality’s revenue for the quarter 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 analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Announces Dividend

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

Institutional Investors Weigh In On DiamondRock Hospitality

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in DiamondRock Hospitality by 106.3% during the second quarter. JPMorgan Chase & Co. now owns 5,412,002 shares of the real estate investment trust’s stock worth $41,456,000 after acquiring an additional 2,788,022 shares during the period. SG Americas Securities LLC grew its position in shares of DiamondRock Hospitality by 881.7% during the 4th quarter. SG Americas Securities LLC now owns 2,024,790 shares of the real estate investment trust’s stock worth $18,142,000 after purchasing an additional 1,818,527 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of DiamondRock Hospitality by 469.0% during the third quarter. Qube Research & Technologies Ltd now owns 2,002,863 shares of the real estate investment trust’s stock worth $15,943,000 after purchasing an additional 1,650,871 shares during the period. Bank of America Corp DE raised its position in shares of 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 valued at $70,717,000 after buying an additional 1,377,897 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in shares of DiamondRock Hospitality in the third quarter valued at approximately $9,098,000.

About DiamondRock Hospitality

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.