Citigroup Forecasts Strong Price Appreciation for DiamondRock Hospitality (NYSE:DRH) Stock

by · The Markets Daily

DiamondRock Hospitality (NYSE:DRH – Get Free Report) had its price target lifted by equities research analysts at Citigroup from $11.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective suggests a potential upside of 0.50% from the stock’s current price.

DRH has been the topic of several other research reports. Truist Financial lifted their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Bank of America upped their price objective on DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley increased their price objective on DiamondRock Hospitality from $9.60 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Wells Fargo & Company lifted their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Finally, Barclays boosted their target price on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.03.

View Our Latest Research Report on DiamondRock Hospitality

DiamondRock Hospitality Stock Down 0.3%

Shares of NYSE:DRH traded down $0.04 during midday trading on Wednesday, reaching $12.94. 353,865 shares of the company were exchanged, compared to its average volume of 2,320,253. DiamondRock Hospitality has a fifty-two week low of $7.45 and a fifty-two week high of $13.03. 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 fifty day simple moving average of $11.67 and a two-hundred day simple moving average of $10.41. The firm has a market cap of $2.65 billion, a PE ratio of 51.74, a P/E/G ratio of 4.50 and a beta of 0.98.

Insider Transactions at DiamondRock Hospitality

In related news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total value of $209,200.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Merrill sold 20,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $11.88, for a total value of $237,600.00. Following the sale, the director owned 84,335 shares in the company, valued at $1,001,899.80. The trade was a 19.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in shares of DiamondRock Hospitality by 223.2% during the 1st quarter. AQR Capital Management LLC now owns 65,376 shares of the real estate investment trust’s stock worth $505,000 after purchasing an additional 45,146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of DiamondRock Hospitality by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust’s stock valued at $955,000 after buying an additional 5,971 shares in the last quarter. United Services Automobile Association acquired a new position in DiamondRock Hospitality during the first quarter worth $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in DiamondRock Hospitality by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock worth $10,251,000 after buying an additional 48,558 shares during the last quarter. Finally, Creative Planning acquired a new position in DiamondRock Hospitality during the second quarter worth $99,000.

About DiamondRock Hospitality

(Get Free Report)

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.

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