Wells Fargo & Company Issues Positive Forecast for DiamondRock Hospitality (NYSE:DRH) Stock Price

DiamondRock Hospitality (NYSE:DRH) had its price objective increased by Wells Fargo & Company from $9.00 to $10.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on the stock. Evercore ISI upped their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “in-line” rating in a research report on Thursday, November 20th. Morgan Stanley reduced their target price on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of DiamondRock Hospitality in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.21.

DiamondRock Hospitality Trading Down 1.4%

NYSE:DRH opened at $8.98 on Monday. The company has a market cap of $1.83 billion, a PE ratio of 35.93, a P/E/G ratio of 4.50 and a beta of 1.04. The business’s 50 day moving average is $8.25 and its two-hundred day moving average is $8.05. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality has a 52 week low of $6.18 and a 52 week high of $10.00.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The business had revenue of $285.38 million during the quarter, compared to the consensus estimate of $277.45 million. During the same period in the previous year, the business earned $0.27 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. On average, analysts predict that DiamondRock Hospitality will post 0.96 EPS for the current year.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of institutional investors have recently bought and sold shares of the stock. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of DiamondRock Hospitality by 66.7% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,748,875 shares of the real estate investment trust’s stock worth $21,221,000 after purchasing an additional 1,100,070 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in DiamondRock Hospitality during the first quarter worth $395,000. American Century Companies Inc. increased its holdings in DiamondRock Hospitality by 150.1% during the first quarter. American Century Companies Inc. now owns 132,649 shares of the real estate investment trust’s stock worth $1,024,000 after buying an additional 79,620 shares during the last quarter. Pzena Investment Management LLC raised its position in DiamondRock Hospitality by 2.1% during the second quarter. Pzena Investment Management LLC now owns 8,785,278 shares of the real estate investment trust’s stock worth $67,295,000 after acquiring an additional 181,610 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in DiamondRock Hospitality by 5.8% in the first quarter. Voya Investment Management LLC now owns 665,423 shares of the real estate investment trust’s stock valued at $5,137,000 after acquiring an additional 36,361 shares during 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.