DiamondRock Hospitality (NYSE:DRH) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of DiamondRock Hospitality (NYSE:DRH) from a sell rating to a hold rating in a research report report published on Friday.

DRH has been the subject of several other research reports. Wolfe Research began coverage on shares of DiamondRock Hospitality in a research note on Wednesday, January 10th. They issued an outperform rating and a $11.00 price objective for the company. Truist Financial increased their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a hold rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus upped their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a buy rating in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, DiamondRock Hospitality presently has a consensus rating of Hold and a consensus target price of $10.30.

DiamondRock Hospitality Trading Up 0.7 %

Shares of NYSE:DRH opened at $8.83 on Friday. The company has a market cap of $1.86 billion, a PE ratio of 24.53 and a beta of 1.61. The company’s 50 day moving average is $9.32 and its two-hundred day moving average is $9.01. DiamondRock Hospitality has a 52 week low of $7.33 and a 52 week high of $9.99. The company has a current ratio of 2.04, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The business had revenue of $263.50 million during the quarter, compared to analysts’ expectations of $261.45 million. DiamondRock Hospitality had a net margin of 7.86% and a return on equity of 5.20%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. Equities analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.36%. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

Institutional Trading of DiamondRock Hospitality

A number of institutional investors have recently modified their holdings of DRH. Parallel Advisors LLC grew its holdings in DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,423 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in DiamondRock Hospitality by 195.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 2,204 shares during the period. Evergreen Capital Management LLC bought a new stake in shares of DiamondRock Hospitality in the 3rd quarter worth approximately $90,000. LDR Capital Management LLC increased its position in DiamondRock Hospitality by 25.5% in the first quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 2,692 shares during the period. Finally, Metis Global Partners LLC increased its holdings in shares of DiamondRock Hospitality by 19.4% in the 4th quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust’s stock worth $134,000 after acquiring an additional 2,324 shares during the period.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.