DiamondRock Hospitality Company (NYSE:DRH) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• DiamondRock Hospitality has a consensus analyst rating of “Hold”, with 7 of 10 analysts recommending hold and 3 recommending buy. The average 12-month price target is $11.65.
• Recent analyst moves were generally positive on price targets, including increases from Barclays and Wells Fargo to $12.00; Truist was the most bullish, assigning a buy rating. Citigroup and Morgan Stanley remained more cautious with neutral/equal-weight views.
• The company recently declared a quarterly dividend of $0.09 per share, implying an annualized yield of 2.9%. Meanwhile, two directors sold shares in recent transactions, while the stock has traded near its 52-week high of $12.54.

DiamondRock Hospitality Company (NYSE:DRH - Get Free Report) has earned a consensus rating of "Hold" from the ten analysts that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.65.

Several analysts have recently weighed in on DRH shares. Barclays lifted their price objective on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the company an "equal weight" rating in a research note on Monday, June 1st. Wells Fargo & Company boosted their price target 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, June 1st. Truist Financial boosted their price target 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. Morgan Stanley boosted their price target on shares of DiamondRock Hospitality from $9.50 to $9.60 and gave the company an "equal weight" rating in a research note on Tuesday, May 12th. Finally, Citigroup boosted their price target 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.

DiamondRock Hospitality Stock Performance

NYSE:DRH opened at $12.47 on Friday. The company has a fifty day moving average of $11.08 and a 200-day moving average of $10.04. The firm has a market capitalization of $2.55 billion, a P/E ratio of 49.86, a P/E/G ratio of 4.50 and a beta of 1.00. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality has a twelve month low of $7.45 and a twelve month high of $12.54.

DiamondRock Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, June 30th. DiamondRock Hospitality's payout ratio is 76.60%.

Insiders Place Their Bets

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the business's stock in a transaction 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 in the company, valued at approximately $997,402.84. The trade was a 17.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Merrill sold 20,000 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the sale, the director owned 84,335 shares of the company's stock, valued at $1,001,899.80. This trade represents a 19.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.90% of the company's stock.

Institutional Trading of DiamondRock Hospitality

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Corp increased its stake in DiamondRock Hospitality by 54.9% during the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 1,139 shares in the last quarter. ProShare Advisors LLC increased its stake in DiamondRock Hospitality by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust's stock valued at $359,000 after purchasing an additional 1,203 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in DiamondRock Hospitality by 32.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 1,470 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in DiamondRock Hospitality by 77.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 1,498 shares during the last quarter. Finally, Gallacher Capital Management LLC boosted its holdings in DiamondRock Hospitality by 5.8% during the 1st quarter. Gallacher Capital Management LLC now owns 27,509 shares of the real estate investment trust's stock worth $258,000 after acquiring an additional 1,504 shares during 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.

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