DiamondRock Hospitality (NYSE:DRH) Coverage Initiated by Analysts at Barclays

Barclays assumed coverage on shares of DiamondRock Hospitality (NYSE:DRH) in a research note published on Tuesday, MarketBeat reports. The brokerage issued an equal weight rating and a $10.00 price objective on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on DRH. Weiss Ratings reiterated a “hold (c)” rating on shares of DiamondRock Hospitality in a report on Wednesday, October 8th. Morgan Stanley cut their price objective on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 22nd. Wells Fargo & Company increased their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, December 1st. Evercore ISI lifted their price target on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research note on Thursday, November 20th. Finally, Truist Financial upped their price objective on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.46.

DiamondRock Hospitality Stock Up 1.2%

NYSE:DRH opened at $9.22 on Tuesday. DiamondRock Hospitality has a 1 year low of $6.18 and a 1 year high of $9.42. The stock has a 50-day moving average price of $8.90 and a two-hundred day moving average price of $8.32. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 4.50 and a beta of 1.03. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $277.45 million. During the same quarter in the previous year, the business posted $0.27 EPS. DiamondRock Hospitality’s revenue for the quarter was up .1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. As a group, equities analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, December 31st. DiamondRock Hospitality’s payout ratio is presently 128.00%.

Hedge Funds Weigh In On DiamondRock Hospitality

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in DiamondRock Hospitality by 106.3% during the second quarter. JPMorgan Chase & Co. now owns 5,412,002 shares of the real estate investment trust’s stock worth $41,456,000 after purchasing an additional 2,788,022 shares during the period. Pzena Investment Management LLC raised its position in shares of DiamondRock Hospitality by 2.1% in the second quarter. Pzena Investment Management LLC now owns 8,785,278 shares of the real estate investment trust’s stock valued at $67,295,000 after purchasing an additional 181,610 shares during the period. Elo Mutual Pension Insurance Co acquired a new stake in shares of DiamondRock Hospitality during the 2nd quarter worth about $213,000. Voya Investment Management LLC boosted its holdings in shares of DiamondRock Hospitality by 5.8% during the 1st quarter. Voya Investment Management LLC now owns 665,423 shares of the real estate investment trust’s stock worth $5,137,000 after buying an additional 36,361 shares during the period. Finally, Lasalle Investment Management Securities LLC boosted its holdings in shares of DiamondRock Hospitality by 17.5% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 1,299,074 shares of the real estate investment trust’s stock worth $9,951,000 after buying an additional 193,699 shares during the period.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.