DiamondRock Hospitality (NYSE:DRH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

DiamondRock Hospitality (NYSE:DRH) had its price objective boosted by stock analysts at Wells Fargo & Company from $12.00 to $13.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 1.17% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Truist Financial increased 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. Bank of America lifted their target price on DiamondRock Hospitality from $12.50 to $13.00 and gave the company a “buy” rating in a research note on Monday, July 20th. LADENBURG THALM/SH SH boosted their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Barclays increased their target price on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Finally, Stifel Nicolaus set a $12.25 price target on shares of DiamondRock Hospitality in a research note on Thursday, June 4th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.12.

DiamondRock Hospitality Trading Up 1.4%

Shares of NYSE DRH opened at $12.85 on Thursday. 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 $2.63 billion, a price-to-earnings ratio of 51.40, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality has a 12-month low of $7.45 and a 12-month high of $13.05. The stock’s 50 day simple moving average is $11.81 and its 200 day simple moving average is $10.48.

Insider Transactions at DiamondRock Hospitality

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the company’s 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 completion of the sale, the director directly owned 95,354 shares of the company’s stock, valued at approximately $997,402.84. This represents a 17.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Merrill sold 20,000 shares of the firm’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 transaction, the director owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. This trade represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.90% of the stock is owned by insiders.

Institutional Trading of DiamondRock Hospitality

Several institutional investors and hedge funds have recently added to or reduced their stakes in DRH. Allworth Financial LP grew its position in DiamondRock Hospitality by 146.0% in the fourth quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,697 shares during the last quarter. First Horizon Corp lifted its position in shares of DiamondRock Hospitality by 54.9% during the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of DiamondRock Hospitality by 77.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 1,498 shares during the last quarter. Danske Bank A S bought a new stake in shares of DiamondRock Hospitality during the 3rd quarter worth $33,000. Finally, Global Retirement Partners LLC boosted its stake in shares of DiamondRock Hospitality by 12,114.7% during the 4th quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 4,119 shares in 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.