DiamondRock Hospitality (NYSE:DRH – Get Free Report) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22), Zacks reports. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The firm had revenue of $309.28 million for the quarter, compared to analyst estimates of $301.77 million. During the same period in the prior year, the company posted $0.32 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. DiamondRock Hospitality updated its FY 2024 guidance to 0.950-1.000 EPS.
DiamondRock Hospitality Stock Performance
Shares of NYSE:DRH remained flat at $8.09 on Friday. The stock had a trading volume of 4,483,656 shares, compared to its average volume of 2,103,640. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99. The firm has a market capitalization of $1.70 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 4.75 and a beta of 1.60. The company’s 50 day moving average price is $8.33 and its 200-day moving average price is $8.88. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.71.
DiamondRock Hospitality Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.12 annualized dividend and a dividend yield of 1.48%. DiamondRock Hospitality’s payout ratio is 33.33%.
Analyst Ratings Changes
View Our Latest Analysis on DiamondRock Hospitality
DiamondRock Hospitality Company Profile
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.
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