DiamondRock Hospitality (NYSE:DRH) Share Price Passes Above 200-Day Moving Average – Here’s Why

DiamondRock Hospitality Company (NYSE:DRH) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.23 and traded as high as $9.25. DiamondRock Hospitality shares last traded at $9.2350, with a volume of 1,089,064 shares trading hands.

Analysts Set New Price Targets

DRH has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, December 1st. Truist Financial boosted their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of DiamondRock Hospitality in a report on Wednesday, October 8th. Morgan Stanley reduced their price objective 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, Evercore ISI boosted their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “in-line” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and an average price target of $9.38.

DiamondRock Hospitality Price Performance

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 company’s fifty day simple moving average is $8.71 and its two-hundred day simple moving average is $8.24. The stock has a market capitalization of $1.87 billion, a PE ratio of 36.68, a P/E/G ratio of 4.50 and a beta of 1.04.

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

DiamondRock Hospitality Announces Dividend

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

Institutional Trading of DiamondRock Hospitality

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its holdings in DiamondRock Hospitality by 0.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 298,326 shares of the real estate investment trust’s stock valued at $2,285,000 after purchasing an additional 1,578 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of DiamondRock Hospitality by 0.6% in the third quarter. Asset Management One Co. Ltd. now owns 295,567 shares of the real estate investment trust’s stock valued at $2,353,000 after buying an additional 1,792 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of DiamondRock Hospitality by 3.1% during the third quarter. Lazard Asset Management LLC now owns 60,199 shares of the real estate investment trust’s stock valued at $479,000 after buying an additional 1,806 shares during the period. M&T Bank Corp boosted its position in DiamondRock Hospitality by 9.4% during the second quarter. M&T Bank Corp now owns 21,298 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 1,833 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in DiamondRock Hospitality by 2.7% during the second quarter. Daiwa Securities Group Inc. now owns 72,809 shares of the real estate investment trust’s stock worth $558,000 after acquiring an additional 1,880 shares during the last quarter.

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.