DiamondRock Hospitality (NYSE:DRH) Sets New 52-Week High – Still a Buy?

DiamondRock Hospitality Company (NYSE:DRH) shares hit a new 52-week high on Thursday . The company traded as high as $10.29 and last traded at $10.2550, with a volume of 316014 shares changing hands. The stock had previously closed at $10.05.

Analysts Set New Price Targets

Several analysts have weighed in on DRH shares. Barclays assumed coverage on DiamondRock Hospitality in a research note on Tuesday, January 6th. They set an “equal weight” rating and a $10.00 price target on the stock. Wells Fargo & Company upped their target price 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. Evercore raised their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “in-line” rating in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $12.00 in a report on Tuesday, January 13th. Finally, Truist Financial raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $11.00 in a report on Friday, January 9th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.91.

DiamondRock Hospitality Stock Performance

The business’s 50-day simple moving average is $9.43 and its two-hundred day simple moving average is $8.73. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 40.94, a P/E/G ratio of 4.50 and a beta of 1.03.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, December 31st. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 128.00%.

Institutional Trading of DiamondRock Hospitality

Several large investors have recently made changes to their positions in the company. Mcguire Capital Advisors Inc. purchased a new position in DiamondRock Hospitality during the 4th quarter valued at about $188,000. Invesco Ltd. lifted its holdings in shares of DiamondRock Hospitality by 19.3% in the fourth quarter. Invesco Ltd. now owns 1,098,648 shares of the real estate investment trust’s stock valued at $9,844,000 after purchasing an additional 177,593 shares in the last quarter. Corient Private Wealth LLC purchased a new position in DiamondRock Hospitality in the 4th quarter valued at about $118,000. EP Wealth Advisors LLC acquired a new position in DiamondRock Hospitality in the 4th quarter valued at $200,000. Finally, Mackenzie Financial Corp raised its position in shares of DiamondRock Hospitality by 97.3% in the 4th quarter. Mackenzie Financial Corp now owns 50,293 shares of the real estate investment trust’s stock worth $462,000 after buying an additional 24,796 shares during the period.

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.