DiamondRock Hospitality (NYSE:DRH) Price Target Raised to $15.00

by · The Markets Daily

DiamondRock Hospitality (NYSE:DRH – Free Report) had its price target raised by Truist Financial from $12.00 to $15.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

DRH has been the topic of a number of other research reports. Barclays lifted their price objective on DiamondRock Hospitality from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 27th. Bank of America increased their target price on DiamondRock Hospitality from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Citigroup raised their target price on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. LADENBURG THALM/SH SH upped their price target on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, Wells Fargo & Company increased their price objective on shares of DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.82.

Check Out Our Latest Report on DRH

DiamondRock Hospitality Stock Up 0.2%

Shares of DRH stock opened at $12.20 on Thursday. The company’s fifty day simple moving average is $12.47 and its two-hundred day simple moving average is $11.23. DiamondRock Hospitality has a 52 week low of $7.47 and a 52 week high of $13.79. The stock has a market cap of $2.50 billion, a P/E ratio of 48.80, a PEG ratio of 4.50 and a beta of 0.97. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70.

DiamondRock Hospitality (NYSE:DRH – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.22. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The firm had revenue of $318.29 million during the quarter, compared to analyst estimates of $314.98 million. During the same quarter last year, the business posted $0.35 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. Analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 3.6%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.09. DiamondRock Hospitality’s dividend payout ratio is presently 60.27%.

Institutional Trading of DiamondRock Hospitality

Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its stake in DiamondRock Hospitality by 146.0% during 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 period. EverSource Wealth Advisors LLC lifted its holdings 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 worth $31,000 after acquiring an additional 1,498 shares during the last quarter. Danske Bank A S purchased a new position in shares of DiamondRock Hospitality during the 3rd quarter worth about $33,000. 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 purchasing an additional 4,119 shares during the period. Finally, State of Wyoming bought a new position in DiamondRock Hospitality during the 2nd quarter valued at about $58,000.

About DiamondRock Hospitality

(Get Free Report)

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resorts in the United States. The company focuses on lodging properties in locations that appeal to business and leisure travelers, including gateway cities, destination resorts and other high-demand markets.

DiamondRock’s properties operate under a combination of nationally recognized hotel brands and independent or company-developed concepts. Its portfolio includes full-service hotels, lifestyle properties and resort accommodations, with services such as guest rooms, restaurants, meeting and event facilities, recreational amenities and other hospitality offerings.

The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.

Read More