DiamondRock Hospitality (NYSE:DRH) Price Target Raised to $10.00

DiamondRock Hospitality (NYSE:DRH) had its price target upped by equities research analysts at Wells Fargo & Company from $9.00 to $10.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 10.31% from the company’s current price.

Several other brokerages also recently issued reports on DRH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Evercore ISI lifted their price target on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “in-line” rating in a research report on Thursday, November 20th. Finally, Morgan Stanley reduced their price objective on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.21.

DiamondRock Hospitality Stock Performance

DiamondRock Hospitality stock traded down $0.05 during trading hours on Monday, reaching $9.07. 247,533 shares of the company were exchanged, compared to its average volume of 2,852,307. DiamondRock Hospitality has a 12 month low of $6.18 and a 12 month high of $10.00. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $8.24 and a 200 day moving average of $8.04. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 36.26, a PEG ratio of 4.50 and a beta of 1.04.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $285.38 million for the quarter, compared to analyst estimates of $277.45 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. As a group, research analysts anticipate that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new position in DiamondRock Hospitality in the third quarter worth about $175,000. Danske Bank A S bought a new stake in shares of DiamondRock Hospitality in the 3rd quarter valued at approximately $33,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of DiamondRock Hospitality by 4.7% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 494,912 shares of the real estate investment trust’s stock worth $3,993,000 after buying an additional 22,417 shares in the last quarter. Caxton Associates LLP bought a new position in shares of DiamondRock Hospitality during the 3rd quarter worth approximately $2,094,000. Finally, Alyeska Investment Group L.P. boosted its stake in DiamondRock Hospitality by 5.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 9,152,343 shares of the real estate investment trust’s stock valued at $72,853,000 after buying an additional 475,611 shares in the last quarter.

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.