DiamondRock Hospitality (NYSE:DRH) Sets New 1-Year High – Here’s What Happened

DiamondRock Hospitality Company (NYSE:DRH) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $9.56 and last traded at $9.6470, with a volume of 2473819 shares changing hands. The stock had previously closed at $9.18.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DRH. Barclays began coverage on DiamondRock Hospitality in a research note on Tuesday, January 6th. They set an “equal weight” rating and a $10.00 target price for the company. Wells Fargo & Company upped their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, December 1st. Morgan Stanley dropped their target price on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 22nd. Truist Financial raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $11.00 in a research note on Friday, January 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.91.

DiamondRock Hospitality Stock Up 3.5%

The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 4.50 and a beta of 1.03. 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 business has a fifty day moving average of $9.07 and a 200 day moving average of $8.42.

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

DiamondRock Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.4%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 128.00%.

Institutional Trading of DiamondRock Hospitality

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in DiamondRock Hospitality by 0.8% during the second quarter. State Street Corp now owns 12,587,578 shares of the real estate investment trust’s stock worth $97,400,000 after purchasing an additional 93,929 shares in the last quarter. Bank of America Corp DE increased its holdings in DiamondRock Hospitality by 17.5% during the 2nd 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. raised its position in DiamondRock Hospitality by 5.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 9,152,343 shares of the real estate investment trust’s stock valued at $72,853,000 after purchasing an additional 475,611 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of DiamondRock Hospitality by 2.1% in the 2nd 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 buying an additional 181,610 shares during the period. Finally, Centersquare Investment Management LLC grew its position in shares of DiamondRock Hospitality by 6.0% during the third quarter. Centersquare Investment Management LLC now owns 7,536,975 shares of the real estate investment trust’s stock worth $59,994,000 after buying an additional 427,467 shares in 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.