DiamondRock Hospitality (NYSE:DRH) Price Target Raised to $10.00 at Morgan Stanley

DiamondRock Hospitality (NYSE:DRH) had its target price upped by Morgan Stanley from $9.60 to $10.00 in a report issued on Friday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Other equities analysts also recently issued research reports about the stock. LADENBURG THALM/SH SH boosted their price objective on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Citigroup boosted their price objective on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Barclays upped their target price on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Wells Fargo & Company upped their price target 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. Finally, Stifel Nicolaus set a $12.25 price target on shares of DiamondRock Hospitality in a report on Thursday, June 4th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.69.

DiamondRock Hospitality Trading Up 2.2%

DRH opened at $12.55 on Friday. DiamondRock Hospitality has a 52 week low of $7.45 and a 52 week high of $12.56. 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’s fifty day moving average is $11.58 and its two-hundred day moving average is $10.35. The company has a market capitalization of $2.57 billion, a P/E ratio of 50.20, a PEG ratio of 4.50 and a beta of 0.98.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a $0.09 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.9%. DiamondRock Hospitality’s dividend payout ratio is 76.60%.

Insider Activity

In other news, Director Michael A. Hartmeier sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Merrill sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $11.88, for a total transaction of $237,600.00. Following the sale, the director owned 84,335 shares of the company’s stock, valued at $1,001,899.80. This represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.90% of the company’s stock.

Institutional Trading of DiamondRock Hospitality

Several hedge funds have recently made changes to their positions in DRH. Allworth Financial LP grew its stake in shares of 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 acquiring an additional 1,697 shares in the last quarter. First Horizon Corp increased its stake in 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 during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of DiamondRock Hospitality by 77.3% in 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 buying an additional 1,498 shares during the last quarter. Danske Bank A S purchased a new stake in shares of DiamondRock Hospitality in the 3rd quarter valued at about $33,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of DiamondRock Hospitality by 12,114.7% in the fourth quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 4,119 shares during the period.

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.