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

DiamondRock Hospitality (NYSE:DRH) had its price target raised by analysts at Barclays from $10.00 to $12.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target suggests a potential upside of 9.84% from the company’s current price.

Several other equities analysts have also recently commented on DRH. LADENBURG THALM/SH SH started coverage on shares of DiamondRock Hospitality in a research note on Thursday, March 26th. They set a “buy” rating and a $12.00 target price for the company. Stifel Nicolaus upped their target price on shares of DiamondRock Hospitality from $11.00 to $11.25 and gave the company a “hold” rating in a research note on Monday, May 11th. Truist Financial upped their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Citigroup upped 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. Finally, Wells Fargo & Company upped their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.32.

DiamondRock Hospitality Stock Performance

Shares of DiamondRock Hospitality stock traded down $0.07 during trading on Monday, reaching $10.93. The company’s stock had a trading volume of 936,094 shares, compared to its average volume of 2,317,553. 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’s fifty day moving average price is $10.19 and its 200-day moving average price is $9.64. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 43.66, a price-to-earnings-growth ratio of 4.50 and a beta of 0.99. DiamondRock Hospitality has a one year low of $7.39 and a one year high of $11.27.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $274.53 million for the quarter, compared to analyst estimates of $273.18 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. As a group, equities research analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael A. Hartmeier sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the sale, the director owned 95,354 shares of the company’s stock, valued at approximately $997,402.84. This trade represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Steve Spierto sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $9.93, for a total transaction of $39,720.00. Following the sale, the chief accounting officer directly owned 77,977 shares of the company’s stock, valued at approximately $774,311.61. The trade was a 4.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of DiamondRock Hospitality

Several hedge funds have recently modified their holdings of DRH. Cohen & Steers Inc. bought a new position in shares of DiamondRock Hospitality in the 4th quarter valued at about $59,231,000. SG Americas Securities LLC increased its holdings in DiamondRock Hospitality by 106.1% in the first quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust’s stock valued at $39,098,000 after purchasing an additional 2,147,881 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in DiamondRock Hospitality by 907.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,292,360 shares of the real estate investment trust’s stock valued at $20,540,000 after buying an additional 2,064,760 shares during the period. Qube Research & Technologies Ltd boosted its holdings in DiamondRock Hospitality by 469.0% during the third quarter. Qube Research & Technologies Ltd now owns 2,002,863 shares of the real estate investment trust’s stock worth $15,943,000 after buying an additional 1,650,871 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings 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 buying an additional 1,377,897 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.