DiamondRock Hospitality (NYSE:DRH) Upgraded at Truist Financial

Truist Financial upgraded shares of DiamondRock Hospitality (NYSE:DRH) from a hold rating to a buy rating in a report issued on Friday morning, MarketBeat reports. Truist Financial currently has $11.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $10.00.

Several other brokerages also recently weighed in on DRH. Barclays started coverage on shares of DiamondRock Hospitality in a research note on Tuesday, January 6th. They set an “equal weight” rating and a $10.00 target price on the stock. Morgan Stanley dropped their price target 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. Evercore ISI upped their price objective on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “in-line” rating in a research report on Thursday, November 20th. Wells Fargo & Company lifted their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, December 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of DiamondRock Hospitality in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.61.

DiamondRock Hospitality Price Performance

DRH stock opened at $9.25 on Friday. The business’s fifty day moving average price is $8.97 and its 200 day moving average price is $8.35. DiamondRock Hospitality has a 12-month low of $6.18 and a 12-month high of $9.44. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.88 billion, a PE ratio of 37.00, a P/E/G ratio of 4.50 and a beta of 1.03.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $285.38 million during the quarter, compared to the consensus estimate of $277.45 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.DiamondRock Hospitality’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. 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 EPS for the current year.

DiamondRock Hospitality Announces Dividend

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

Institutional Trading of DiamondRock Hospitality

A number of institutional investors have recently bought and sold shares of DRH. JPMorgan Chase & Co. boosted its position in shares of DiamondRock Hospitality by 106.3% during the 2nd 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 in the last quarter. SG Americas Securities LLC lifted its stake in DiamondRock Hospitality by 881.7% during the fourth 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 during the last quarter. Qube Research & Technologies Ltd boosted its holdings in DiamondRock Hospitality by 469.0% in the third quarter. Qube Research & Technologies Ltd now owns 2,002,863 shares of the real estate investment trust’s stock valued at $15,943,000 after purchasing an additional 1,650,871 shares in the last quarter. Bank of America Corp DE increased its stake 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 valued at $70,717,000 after purchasing an additional 1,377,897 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in 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.