DiamondRock Hospitality (NYSE:DRH) Given New $14.00 Price Target at Wells Fargo & Company

DiamondRock Hospitality (NYSE:DRH) had its price objective hoisted by research analysts at Wells Fargo & Company from $13.00 to $14.00 in a report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 0.19% from the stock’s current price.

A number of other brokerages have also issued reports on DRH. Morgan Stanley boosted their price target on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, October 12th. Bank of America raised their price objective on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Stifel Nicolaus lifted their price objective on DiamondRock Hospitality from $12.50 to $13.25 and gave the company a “hold” rating in a report on Friday, July 31st. Truist Financial boosted their target price on DiamondRock Hospitality from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Finally, Zacks Research cut DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.03.

DiamondRock Hospitality Stock Performance

DRH traded up $0.27 during trading on Monday, hitting $14.03. The stock had a trading volume of 91,844 shares, compared to its average volume of 2,513,361. 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 firm has a market capitalization of $2.87 billion, a P/E ratio of 56.14, a PEG ratio of 4.50 and a beta of 1.01. The company’s 50-day moving average price is $12.61 and its 200 day moving average price is $11.91. DiamondRock Hospitality has a twelve month low of $7.58 and a twelve month high of $14.10.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, topping 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 company had revenue of $318.29 million during the quarter, compared to the consensus estimate of $314.98 million. During the same quarter in the prior year, the firm earned $0.35 EPS. DiamondRock Hospitality’s quarterly revenue was up 4.1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. On average, equities research analysts forecast that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On DiamondRock Hospitality

Several institutional investors have recently made changes to their positions in DRH. Global Retirement Partners LLC purchased a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at about $50,000. Allworth Financial LP acquired a new stake in shares of DiamondRock Hospitality in the second quarter valued at about $59,000. Farther Finance Advisors LLC lifted its stake in shares of DiamondRock Hospitality by 155.2% in the third quarter. Farther Finance Advisors LLC now owns 5,549 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 3,375 shares during the period. Nykredit A S acquired a new stake in shares of DiamondRock Hospitality in the second quarter valued at about $81,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in DiamondRock Hospitality during the second quarter worth about $84,000.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resort properties in the United States. The company focuses on lodging real estate in leisure destinations and gateway markets, with properties serving business travelers, vacationers, and group customers.

DiamondRock’s portfolio includes hotels operated under nationally recognized brands as well as independent and boutique properties. Its business activities include acquiring, owning, leasing, and strategically managing hospitality real estate, while day-to-day hotel operations are generally carried out by third-party management companies and brand operators.

The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.