DiamondRock Hospitality Company (NYSE:DRH) Receives Average Recommendation of “Hold” from Brokerages

DiamondRock Hospitality Company (NYSE:DRH) has earned an average recommendation of “Hold” from the eleven research firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $12.1250.

A number of research firms have commented on DRH. Truist Financial raised their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Citigroup upped their target price on DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Barclays increased their target price on DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Wells Fargo & Company raised their price target on DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Stifel Nicolaus set a $12.25 price target on DiamondRock Hospitality in a research note on Thursday, June 4th.

Insider Activity at DiamondRock Hospitality

In related news, Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the transaction, the director directly owned 84,335 shares of the company’s stock, valued at $1,001,899.80. This trade represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the transaction, the director directly owned 95,354 shares in the company, valued at $997,402.84. This trade represents a 17.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DiamondRock Hospitality

Several institutional investors and hedge funds have recently added to or reduced their stakes in DRH. Allworth Financial LP increased its stake in shares of DiamondRock Hospitality by 146.0% in the 4th quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 1,697 shares during the last quarter. First Horizon Corp raised its holdings 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 worth $29,000 after buying an additional 1,139 shares in 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 worth $31,000 after buying an additional 1,498 shares during the last quarter. Global Retirement Partners LLC lifted its position 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 buying an additional 4,119 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in DiamondRock Hospitality in the third quarter valued at about $33,000.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock opened at $12.91 on Thursday. 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 stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 51.64, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality has a twelve month low of $7.45 and a twelve month high of $13.05. The company has a 50-day simple moving average of $11.86 and a two-hundred day simple moving average of $10.51.

DiamondRock Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 76.60%.

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.