LADENBURG THALM/SH SH Increases DiamondRock Hospitality (NYSE:DRH) Price Target to $14.00

DiamondRock Hospitality (NYSE:DRH) had its price target increased by research analysts at LADENBURG THALM/SH SH from $13.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s target price would suggest a potential upside of 14.43% from the company’s previous close.

Several other research analysts also recently weighed in on DRH. Barclays upped their price target on DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Wells Fargo & Company lifted their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Truist Financial boosted their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Stifel Nicolaus set a $12.25 target price on shares of DiamondRock Hospitality in a research report on Thursday, June 4th. Finally, Citigroup raised their target price on shares of DiamondRock Hospitality from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.65.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock traded up $0.36 during trading hours on Thursday, hitting $12.23. The company’s stock had a trading volume of 1,146,547 shares, compared to its average volume of 2,251,636. The company has a market cap of $2.50 billion, a PE ratio of 48.90, a PEG ratio of 4.50 and a beta of 1.00. 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 has a 50 day moving average price of $10.76 and a two-hundred day moving average price of $9.88. DiamondRock Hospitality has a 12-month low of $7.45 and a 12-month high of $12.33.

Insiders Place Their Bets

In other DiamondRock Hospitality news, Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $11.88, for a total value of $237,600.00. Following the transaction, the director owned 84,335 shares in the company, valued at $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the transaction, the director directly owned 95,354 shares in the company, valued at approximately $997,402.84. The trade was a 17.34% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP acquired a new position in shares of DiamondRock Hospitality during the 3rd quarter worth approximately $9,098,000. Centersquare Investment Management LLC lifted its position in shares of DiamondRock Hospitality by 6.0% in the third quarter. Centersquare Investment Management LLC now owns 7,536,975 shares of the real estate investment trust’s stock valued at $59,994,000 after acquiring an additional 427,467 shares in the last quarter. UBS Group AG boosted its stake in shares of DiamondRock Hospitality by 49.9% in the fourth quarter. UBS Group AG now owns 2,627,787 shares of the real estate investment trust’s stock worth $23,545,000 after acquiring an additional 874,536 shares during the last quarter. SG Americas Securities LLC increased its position in shares of DiamondRock Hospitality by 881.7% during the fourth quarter. SG Americas Securities LLC now owns 2,024,790 shares of the real estate investment trust’s stock worth $18,142,000 after purchasing an additional 1,818,527 shares in the last quarter. Finally, Lighthouse Investment Partners LLC raised its stake in DiamondRock Hospitality by 35.2% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 825,000 shares of the real estate investment trust’s stock valued at $6,567,000 after purchasing an additional 215,000 shares during the last quarter.

DiamondRock Hospitality Company Profile

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.