DiamondRock Hospitality (NYSE:DRH) Upgraded by StockNews.com to Hold

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

DRH has been the topic of a number of other research reports. Wolfe Research began coverage on shares of DiamondRock Hospitality in a research note on Wednesday, January 10th. They set an outperform rating and a $11.00 target price on the stock. Truist Financial increased their target price on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a hold rating in a research report on Thursday, March 14th. Finally, Stifel Nicolaus lifted their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a buy rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality has an average rating of Hold and a consensus target price of $10.30.

DiamondRock Hospitality Stock Performance

Shares of NYSE:DRH opened at $8.82 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $9.32 and a 200-day moving average price of $9.02. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 24.49 and a beta of 1.61. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). The business had revenue of $263.50 million for 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%. DiamondRock Hospitality’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. As a group, equities analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued 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 33.33%.

Hedge Funds Weigh In On DiamondRock Hospitality

Several large investors have recently modified their holdings of DRH. First Trust Direct Indexing L.P. boosted its stake in DiamondRock Hospitality by 8.8% during the 4th quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 1,181 shares during the last quarter. Swiss National Bank lifted its holdings in shares of DiamondRock Hospitality by 0.4% during the third quarter. Swiss National Bank now owns 461,100 shares of the real estate investment trust’s stock valued at $3,703,000 after purchasing an additional 1,800 shares in the last quarter. Diversified Trust Co boosted its position in shares of DiamondRock Hospitality by 4.2% during the third quarter. Diversified Trust Co now owns 52,385 shares of the real estate investment trust’s stock valued at $421,000 after buying an additional 2,108 shares during the last quarter. Quadrant Capital Group LLC raised its position in 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 worth $31,000 after buying an additional 2,204 shares during the last quarter. Finally, Metis Global Partners LLC lifted its stake in DiamondRock Hospitality by 19.4% during the 4th quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 2,324 shares during the period.

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.