DiamondRock Hospitality (NYSE:DRH) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

DiamondRock Hospitality (NYSE:DRH) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $12.00 price target on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 29.31% from the company’s previous close.

Several other analysts have also issued reports on DRH. Morgan Stanley cut their price target on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Barclays started coverage on shares of DiamondRock Hospitality in a report on Tuesday, January 6th. They issued an “equal weight” rating and a $10.00 price target on the stock. Evercore ISI raised their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research report on Thursday, November 20th. Finally, Truist Financial upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $11.00 in a report on Friday. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.91.

DiamondRock Hospitality Price Performance

Shares of NYSE:DRH opened at $9.28 on Tuesday. The business has a fifty day moving average price of $9.00 and a 200-day moving average price of $8.36. 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 $1.89 billion, a PE ratio of 37.12, a PEG ratio of 4.50 and a beta of 1.03. DiamondRock Hospitality has a 1-year low of $6.18 and a 1-year high of $9.44.

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 analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $285.38 million during the quarter, compared to analyst estimates of $277.45 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. DiamondRock Hospitality’s revenue was up .1% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. 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 EPS for the current fiscal year.

Institutional Trading of DiamondRock Hospitality

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of DiamondRock Hospitality by 0.8% in the 2nd quarter. State Street Corp now owns 12,587,578 shares of the real estate investment trust’s stock valued at $97,400,000 after buying an additional 93,929 shares during the period. Bank of America Corp DE increased its stake in DiamondRock Hospitality by 17.5% during the second quarter. Bank of America Corp DE now owns 9,231,991 shares of the real estate investment trust’s stock worth $70,717,000 after purchasing an additional 1,377,897 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of DiamondRock Hospitality by 5.5% in the third quarter. Alyeska Investment Group L.P. now owns 9,152,343 shares of the real estate investment trust’s stock worth $72,853,000 after acquiring an additional 475,611 shares in the last quarter. Pzena Investment Management LLC raised its stake 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 acquiring an additional 181,610 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its stake in shares of DiamondRock Hospitality by 6.0% in the 3rd 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 buying an additional 427,467 shares during the period.

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.