DiamondRock Hospitality (NYSE:DRH) Price Target Raised to $12.00

DiamondRock Hospitality (NYSE:DRH) had its price objective raised by Morgan Stanley from $11.00 to $12.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

DRH has been the topic of a number of other research reports. Stifel Nicolaus lifted their target price on DiamondRock Hospitality from $12.50 to $13.25 and gave the stock a “hold” rating in a research report on Friday, July 31st. Zacks Research downgraded DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Citigroup upped their target price on DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Truist Financial raised their price target on DiamondRock Hospitality from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Finally, Barclays raised their price target on DiamondRock Hospitality from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 27th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.93.

DiamondRock Hospitality Trading Down 2.1%

NYSE DRH opened at $12.88 on Monday. The firm’s fifty day moving average price is $12.42 and its 200 day moving average price is $11.70. DiamondRock Hospitality has a 12 month low of $7.58 and a 12 month high of $13.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 51.52, a price-to-earnings-growth ratio of 4.50 and a beta of 1.01.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.22. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The firm had revenue of $318.29 million during the quarter, compared to analysts’ expectations of $314.98 million. During the same period in the previous year, the company earned $0.35 earnings per share. DiamondRock Hospitality’s quarterly revenue was up 4.1% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. On average, sell-side analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were paid a dividend of $0.11 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 3.4%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.09. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 60.27%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new position in shares of DiamondRock Hospitality in the second quarter valued at approximately $50,000. Allworth Financial LP purchased a new stake in shares of DiamondRock Hospitality during the second quarter worth approximately $59,000. Farther Finance Advisors LLC raised its stake in shares of DiamondRock Hospitality by 155.2% during the third quarter. Farther Finance Advisors LLC now owns 5,549 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 3,375 shares during the last quarter. Nykredit A S purchased a new stake in shares of DiamondRock Hospitality during the second quarter worth approximately $81,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of DiamondRock Hospitality during the second quarter worth approximately $84,000.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of upscale and luxury hotels and resorts in the United States. The company focuses on acquiring, owning and strategically managing lodging properties in major gateway markets, destination resorts and other high-demand locations.

DiamondRock’s portfolio includes full-service hotels operating under nationally recognized brands such as Marriott, Hilton and Hyatt, as well as independent and boutique properties.