DiamondRock Hospitality Company (NYSE:DRH) Given Average Rating of “Hold” by Analysts

DiamondRock Hospitality Company (NYSE:DRH) has earned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.4278.

A number of brokerages have recently commented on DRH. Citigroup upped their target price on DiamondRock Hospitality from $9.50 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Barclays upped their target price on DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Morgan Stanley upped their price target on DiamondRock Hospitality from $9.50 to $9.60 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, Truist Financial raised their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, May 26th.

Insider Transactions at DiamondRock Hospitality

In related news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction on Wednesday, May 13th. The shares were 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. This trade represents a 17.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On DiamondRock Hospitality

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its stake in 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 acquiring an additional 1,697 shares during the period. First Horizon Corp grew its stake in DiamondRock Hospitality by 54.9% in the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,139 shares during the period. EverSource Wealth Advisors LLC grew its stake in 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 acquiring an additional 1,498 shares during the period. Danske Bank A S acquired a new stake in DiamondRock Hospitality in the 3rd quarter valued at $33,000. Finally, Global Retirement Partners LLC grew its stake in DiamondRock Hospitality by 12,114.7% in the 4th 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.

DiamondRock Hospitality Stock Up 0.8%

Shares of DRH opened at $11.70 on Wednesday. DiamondRock Hospitality has a 52 week low of $7.44 and a 52 week high of $11.81. 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 company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 46.80, a PEG ratio of 4.50 and a beta of 1.00. The stock’s 50-day moving average price is $10.47 and its 200-day moving average price is $9.76.

DiamondRock Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a $0.09 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.1%. DiamondRock Hospitality’s payout ratio is 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.