Morgan Stanley Raises DiamondRock Hospitality (NYSE:DRH) Price Target to $9.50

DiamondRock Hospitality (NYSE:DRH) had its price objective hoisted by stock analysts at Morgan Stanley from $9.00 to $9.50 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective would suggest a potential downside of 6.68% from the company’s previous close.

A number of other research firms also recently commented on DRH. Deutsche Bank Aktiengesellschaft upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a report on Tuesday, January 13th. Barclays assumed coverage on DiamondRock Hospitality in a report on Tuesday, January 6th. They issued an “equal weight” rating and a $10.00 price objective on the stock. LADENBURG THALM/SH SH assumed coverage on DiamondRock Hospitality in a report on Thursday, March 26th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Truist Financial upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $11.00 in a report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, DiamondRock Hospitality presently has a consensus rating of “Hold” and a consensus target price of $10.25.

DiamondRock Hospitality Trading Up 1.0%

DRH opened at $10.18 on Friday. DiamondRock Hospitality has a one year low of $6.76 and a one year high of $10.67. The company has a market cap of $2.08 billion, a P/E ratio of 40.72, a PEG ratio of 4.50 and a beta of 0.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The business’s 50-day simple moving average is $9.66 and its 200-day simple moving average is $9.03.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The business had revenue of $274.53 million for the quarter, compared to the consensus estimate of $273.18 million. During the same quarter in the prior year, the business posted $0.24 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. DiamondRock Hospitality has set its FY 2026 guidance at 1.090-1.160 EPS. As a group, equities research analysts expect that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

Insider Activity

In related news, CAO Steve Spierto sold 4,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $9.93, for a total value of $39,720.00. Following the completion of the sale, the chief accounting officer directly owned 77,977 shares of the company’s stock, valued at $774,311.61. This represents a 4.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of DiamondRock Hospitality

Large investors have recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of DiamondRock Hospitality by 146.0% in the 4th quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 1,697 shares during the period. First Horizon Corp boosted its position in shares of DiamondRock Hospitality by 54.9% in the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 1,139 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of DiamondRock Hospitality by 77.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,498 shares during the period. Danske Bank A S acquired a new stake in shares of DiamondRock Hospitality in the 3rd quarter valued at about $33,000. Finally, Global Retirement Partners LLC boosted its position in shares of DiamondRock Hospitality by 12,114.7% in the 4th quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 4,119 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.