DiamondRock Hospitality (NYSE:DRH) Sees Strong Trading Volume

DiamondRock Hospitality (NYSE:DRH - Get Free Report) shares saw an uptick in trading volume on Monday . 2,597,899 shares were traded during mid-day trading, an increase of 64% from the previous session's volume of 1,581,820 shares.The stock last traded at $9.45 and had previously closed at $9.28.

Analysts Set New Price Targets

A number of research firms recently commented on DRH. StockNews.com lowered shares of DiamondRock Hospitality from a "hold" rating to a "sell" rating in a research note on Saturday, February 3rd. Wolfe Research started coverage on shares of DiamondRock Hospitality in a report on Wednesday, January 10th. They issued an "outperform" rating and a $11.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Friday, December 22nd. Stifel Nicolaus boosted their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a "buy" rating in a report on Friday, February 23rd. Finally, Truist Financial boosted their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a "hold" rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, DiamondRock Hospitality currently has an average rating of "Hold" and a consensus price target of $10.30.

DiamondRock Hospitality Stock Performance

The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 25.86 and a beta of 1.60. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.71. The stock's 50-day simple moving average is $9.39 and its 200 day simple moving average is $8.91.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). The company had revenue of $263.50 million for the quarter, compared to the consensus estimate of $261.45 million. DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The firm's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. Analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Wednesday, March 27th. DiamondRock Hospitality's dividend payout ratio (DPR) is presently 33.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in DiamondRock Hospitality by 101.1% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 132,028 shares of the real estate investment trust's stock worth $1,060,000 after purchasing an additional 66,388 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in DiamondRock Hospitality by 7.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 306,213 shares of the real estate investment trust's stock worth $2,459,000 after acquiring an additional 22,438 shares during the last quarter. Invesco Ltd. grew its holdings in DiamondRock Hospitality by 3.1% during the 3rd quarter. Invesco Ltd. now owns 5,455,648 shares of the real estate investment trust's stock worth $43,809,000 after acquiring an additional 165,142 shares during the last quarter. Diversified Trust Co boosted its stake in shares of DiamondRock Hospitality by 4.2% in the 3rd quarter. Diversified Trust Co now owns 52,385 shares of the real estate investment trust's stock valued at $421,000 after purchasing an additional 2,108 shares during the last quarter. Finally, Bamco Inc. NY acquired a new position in shares of DiamondRock Hospitality during the 3rd quarter valued at $3,866,000.

DiamondRock Hospitality Company Profile

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.