DiamondRock Hospitality Company (NYSE:DRH) Receives $11.65 Average PT from Analysts

Shares of DiamondRock Hospitality Company (NYSE:DRH) have earned an average recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.65.

A number of equities research analysts have weighed in on DRH shares. Wells Fargo & Company lifted their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Truist Financial increased their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Barclays raised their price target on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Morgan Stanley lifted their price target on DiamondRock Hospitality from $9.50 to $9.60 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus set a $12.25 price objective on DiamondRock Hospitality in a report on Thursday, June 4th.

Insiders Place Their Bets

In related news, Director Kathleen Merrill sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the sale, the director owned 84,335 shares in the company, valued at $1,001,899.80. This trade represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. Hartmeier sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total transaction of $209,200.00. Following the sale, the director directly owned 95,354 shares in the company, valued at approximately $997,402.84. This represents a 17.34% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its holdings in 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 valued at $26,000 after purchasing an additional 1,697 shares during the last quarter. First Horizon Corp raised its stake in shares of DiamondRock Hospitality by 54.9% during the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of DiamondRock Hospitality by 77.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $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 worth about $33,000. Finally, Global Retirement Partners LLC boosted its position in shares of 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 worth $37,000 after buying an additional 4,119 shares in the last quarter.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $12.08 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 48.32, a price-to-earnings-growth ratio of 4.50 and a beta of 1.00. The firm’s fifty day moving average price is $11.22 and its 200 day moving average price is $10.14. DiamondRock Hospitality has a 1-year low of $7.45 and a 1-year high of $12.54.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, June 30th. DiamondRock Hospitality’s payout ratio is presently 76.60%.

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.