Citigroup Forecasts Strong Price Appreciation for DiamondRock Hospitality (NYSE:DRH) Stock

DiamondRock Hospitality (NYSE:DRH) had its price objective hoisted by equities research analysts at Citigroup from $11.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective suggests a potential upside of 2.60% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Wells Fargo & Company increased their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Barclays boosted their target price on DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Truist Financial upped their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a research report on Thursday, June 4th. Finally, LADENBURG THALM/SH SH lifted their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of “Hold” and a consensus target price of $12.12.

DiamondRock Hospitality Stock Down 1.8%

DRH opened at $12.67 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The company’s 50-day moving average is $11.76 and its 200 day moving average is $10.46. DiamondRock Hospitality has a fifty-two week low of $7.45 and a fifty-two week high of $13.05. The firm has a market capitalization of $2.59 billion, a P/E ratio of 50.68, a PEG ratio of 4.50 and a beta of 0.98.

Insider Activity

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total value of $209,200.00. Following the sale, the director owned 95,354 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Also, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the completion of the transaction, the director owned 84,335 shares in the company, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On DiamondRock Hospitality

Several institutional investors have recently bought and sold shares of the company. First Horizon Corp lifted its position 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 buying an additional 1,139 shares during the last quarter. ProShare Advisors LLC grew its position in DiamondRock Hospitality by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 1,203 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in 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 acquiring an additional 1,470 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake 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 worth $31,000 after acquiring an additional 1,498 shares in the last quarter. Finally, Gallacher Capital Management LLC raised its stake in shares of DiamondRock Hospitality by 5.8% during the first quarter. Gallacher Capital Management LLC now owns 27,509 shares of the real estate investment trust’s stock worth $258,000 after acquiring an additional 1,504 shares in the last quarter.

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.