Analysts Set DiamondRock Hospitality (NYSE:DRH) Target Price at $10.30

Shares of DiamondRock Hospitality (NYSE:DRH) have earned an average recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $10.30.

A number of equities analysts recently commented on the stock. Truist Financial raised their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. Stifel Nicolaus upped their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research report on Friday, February 23rd. StockNews.com lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Finally, Wolfe Research initiated coverage on shares of DiamondRock Hospitality in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 target price for the company.

Hedge Funds Weigh In On DiamondRock Hospitality

Several institutional investors and hedge funds have recently added to or reduced their stakes in DRH. Parallel Advisors LLC raised its position in DiamondRock Hospitality by 313.5% in the fourth quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,423 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in DiamondRock Hospitality by 195.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 2,204 shares during the last quarter. National Bank of Canada FI acquired a new stake in DiamondRock Hospitality during the 3rd quarter worth approximately $30,000. Tower Research Capital LLC TRC boosted its position in DiamondRock Hospitality by 711.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 6,242 shares during the period. Finally, Advisor Partners II LLC bought a new stake in DiamondRock Hospitality during the 1st quarter worth approximately $83,000.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $8.83 on Friday. The company has a market cap of $1.86 billion, a P/E ratio of 24.53 and a beta of 1.60. The firm’s fifty day moving average price is $9.37 and its two-hundred day moving average price is $8.95. DiamondRock Hospitality has a one year low of $7.33 and a one year high of $9.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.00 and a quick ratio of 2.00.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The company had revenue of $263.50 million during the quarter, compared to analyst estimates of $261.45 million. DiamondRock Hospitality had a net margin of 8.03% and a return on equity of 5.29%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.23 EPS. Equities analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 27th. DiamondRock Hospitality’s payout ratio is 33.33%.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.