DiamondRock Hospitality (NYSE:DRH) Price Target Raised to $10.00

DiamondRock Hospitality (NYSE:DRH) had its price target raised by Truist Financial from $9.00 to $10.00 in a research note published on Thursday,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other analysts have also recently commented on the stock. Evercore ISI increased their price target 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. Morgan Stanley cut their target price on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Finally, 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. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.38.

DiamondRock Hospitality Stock Performance

DRH opened at $8.75 on Thursday. The business’s 50-day simple moving average is $8.31 and its 200 day simple moving average is $8.08. DiamondRock Hospitality has a 52-week low of $6.18 and a 52-week 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. The firm has a market capitalization of $1.78 billion, a PE ratio of 35.00, a PEG ratio of 4.50 and a beta of 1.04.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results 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 return on equity of 4.04% and a net margin of 5.69%.The firm had revenue of $285.38 million for the quarter, compared to analyst estimates of $277.45 million. During the same quarter in the previous year, the firm earned $0.27 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. As a group, sell-side analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 3.7%. DiamondRock Hospitality’s dividend payout ratio is presently 128.00%.

Institutional Trading of DiamondRock Hospitality

Several institutional investors have recently added to or reduced their stakes in DRH. Public Employees Retirement System of Ohio lifted its holdings in shares of DiamondRock Hospitality by 0.5% during the second quarter. Public Employees Retirement System of Ohio now owns 298,326 shares of the real estate investment trust’s stock worth $2,285,000 after buying an additional 1,578 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in DiamondRock Hospitality by 0.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 295,567 shares of the real estate investment trust’s stock worth $2,353,000 after purchasing an additional 1,792 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in DiamondRock Hospitality by 3.1% in the 3rd quarter. Lazard Asset Management LLC now owns 60,199 shares of the real estate investment trust’s stock valued at $479,000 after purchasing an additional 1,806 shares during the period. M&T Bank Corp grew its position in shares of DiamondRock Hospitality by 9.4% during the 2nd quarter. M&T Bank Corp now owns 21,298 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of DiamondRock Hospitality by 2.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 72,809 shares of the real estate investment trust’s stock worth $558,000 after purchasing an additional 1,880 shares in the last quarter.

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.