DiamondRock Hospitality (NYSE:DRH) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of DiamondRock Hospitality (NYSE:DRH) have been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $9.92.

A number of equities research analysts have recently issued reports on DRH shares. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Monday, August 5th. Wells Fargo & Company dropped their target price on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Truist Financial dropped their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in DiamondRock Hospitality during the second quarter valued at $1,271,000. Dana Investment Advisors Inc. increased its holdings in shares of DiamondRock Hospitality by 8.7% in the second quarter. Dana Investment Advisors Inc. now owns 822,407 shares of the real estate investment trust’s stock worth $6,949,000 after buying an additional 65,861 shares during the period. Truist Financial Corp lifted its position in DiamondRock Hospitality by 14.1% in the second quarter. Truist Financial Corp now owns 55,605 shares of the real estate investment trust’s stock valued at $470,000 after purchasing an additional 6,886 shares during the last quarter. Quarry LP boosted its position in DiamondRock Hospitality by 2,093.9% during the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 3,769 shares during the period. Finally, Algert Global LLC bought a new position in DiamondRock Hospitality during the 2nd quarter valued at approximately $178,000.

DiamondRock Hospitality Stock Down 0.5 %

NYSE:DRH opened at $9.05 on Monday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 4.07 and a beta of 1.60. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99. The stock’s 50 day moving average price is $8.39 and its two-hundred day moving average price is $8.66.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The firm had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. During the same period last year, the business earned $0.32 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Equities research analysts expect that DiamondRock Hospitality will post 0.98 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.03 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.33%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 33.33%.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.