DiamondRock Hospitality (NYSE:DRH) Hits New 52-Week High – Should You Buy?

DiamondRock Hospitality Company (NYSE:DRH) hit a new 52-week high on Friday . The company traded as high as $11.66 and last traded at $11.6550, with a volume of 369757 shares. The stock had previously closed at $11.54.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on DRH shares. Morgan Stanley boosted their target price on DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Stifel Nicolaus set a $12.25 price objective on shares of DiamondRock Hospitality in a report on Thursday. Wells Fargo & Company raised their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Barclays raised their price objective on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Finally, Truist Financial raised their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.43.

DiamondRock Hospitality Stock Performance

The company has a market capitalization of $2.37 billion, a PE ratio of 46.44, a PEG ratio of 4.50 and a beta of 1.00. 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 company has a 50-day moving average price of $10.38 and a two-hundred day moving average price of $9.71.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a $0.09 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 annualized dividend and a dividend yield of 3.1%. DiamondRock Hospitality’s payout ratio is 76.60%.

Insider Buying and Selling at DiamondRock Hospitality

In other news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total value of $209,200.00. Following the completion of the transaction, the director directly owned 95,354 shares in the company, valued at approximately $997,402.84. The trade was a 17.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On DiamondRock Hospitality

Several hedge funds have recently made changes to their positions in the stock. First Horizon Corp grew its position in shares of DiamondRock Hospitality by 54.9% in the fourth quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,139 shares in the last quarter. ProShare Advisors LLC increased its holdings 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 period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of DiamondRock Hospitality by 32.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 1,470 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of DiamondRock Hospitality by 77.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,498 shares during the period. Finally, Gallacher Capital Management LLC increased its holdings in shares of DiamondRock Hospitality by 5.8% in the first quarter. Gallacher Capital Management LLC now owns 27,509 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 1,504 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.