DiamondRock Hospitality (NYSE:DRH) Stock Rating Upgraded by StockNews.com

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

A number of other analysts also recently weighed in on DRH. Truist Financial upped their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a hold rating in a report on Thursday, March 14th. Wolfe Research initiated coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They set an outperform rating and a $11.00 price target for the company. Finally, Stifel Nicolaus increased their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a buy rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, DiamondRock Hospitality presently has a consensus rating of Hold and an average target price of $10.30.

DiamondRock Hospitality Price Performance

Shares of NYSE DRH opened at $8.83 on Friday. The business has a fifty day moving average price of $9.32 and a two-hundred day moving average price of $9.01. The stock has a market capitalization of $1.86 billion, a PE ratio of 24.53 and a beta of 1.61. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.04 and a quick ratio of 2.00. DiamondRock Hospitality has a fifty-two week low of $7.33 and a fifty-two week high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results 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). DiamondRock Hospitality had a return on equity of 5.20% and a net margin of 7.86%. The company had revenue of $263.50 million during the quarter, compared to the consensus estimate of $261.45 million. During the same quarter in the previous year, the business posted $0.23 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 27th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 33.33%.

Institutional Trading of DiamondRock Hospitality

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

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.