DiamondRock Hospitality (NYSE:DRH) Sees Unusually-High Trading Volume – Still a Buy?

Shares of DiamondRock Hospitality Company (NYSE:DRH) saw unusually-strong trading volume on Friday . Approximately 3,765,156 shares changed hands during mid-day trading, an increase of 32% from the previous session’s volume of 2,843,073 shares.The stock last traded at $9.8850 and had previously closed at $9.81.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a research report on Tuesday, January 13th. Wells Fargo & Company raised their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, December 1st. Barclays began coverage on DiamondRock Hospitality in a report on Tuesday, January 6th. They set an “equal weight” rating and a $10.00 target price on the stock. Truist Financial raised DiamondRock Hospitality from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $11.00 in a research report on Friday, January 9th. Finally, Morgan Stanley dropped their price target on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 22nd. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.91.

DiamondRock Hospitality Price Performance

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 cap of $2.01 billion, a PE ratio of 39.48, a P/E/G ratio of 4.50 and a beta of 1.03. The firm has a 50 day moving average of $9.29 and a two-hundred day moving average of $8.60.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Wednesday, December 31st. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 128.00%.

Institutional Investors Weigh In On DiamondRock Hospitality

Institutional investors have recently made changes to their positions in the company. First Horizon Corp raised its holdings in DiamondRock Hospitality by 54.9% in the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 1,139 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of DiamondRock Hospitality by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock worth $359,000 after purchasing an additional 1,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of DiamondRock Hospitality by 32.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 1,470 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of DiamondRock Hospitality by 77.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,498 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in shares of DiamondRock Hospitality by 3.6% during the fourth quarter. Metis Global Partners LLC now owns 48,193 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 1,667 shares during the last quarter.

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.