DiamondRock Hospitality (NYSE:DRH) Reaches New 52-Week High – Should You Buy?

DiamondRock Hospitality Company (NYSE:DRH) reached a new 52-week high during trading on Thursday . The stock traded as high as $10.29 and last traded at $10.2550, with a volume of 316014 shares changing hands. The stock had previously closed at $10.05.

Analyst Ratings Changes

DRH has been the topic of a number of analyst reports. Truist Financial raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and upped their target price for the stock from $10.00 to $11.00 in a report on Friday, January 9th. Wells Fargo & Company boosted their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, December 1st. Deutsche Bank Aktiengesellschaft raised DiamondRock Hospitality from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $12.00 in a research report on Tuesday, January 13th. Evercore lifted their price target on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research report on Thursday, November 20th. Finally, Barclays initiated coverage on shares of DiamondRock Hospitality in a research note on Tuesday, January 6th. They issued an “equal weight” rating and a $10.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.91.

DiamondRock Hospitality Trading Up 1.6%

The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average price is $9.43 and its two-hundred day moving average price is $8.73. The firm has a market cap of $2.08 billion, a PE ratio of 40.94, a P/E/G ratio of 4.50 and a beta of 1.03.

DiamondRock Hospitality Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were issued a $0.08 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 3.1%. DiamondRock Hospitality’s payout ratio is currently 128.00%.

Institutional Trading of DiamondRock Hospitality

A number of institutional investors have recently modified their holdings of DRH. Allworth Financial LP grew its stake in DiamondRock Hospitality by 146.0% during the 4th quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,697 shares during the last quarter. First Horizon Corp raised its position in shares of DiamondRock Hospitality by 54.9% in 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 during the last quarter. EverSource Wealth Advisors LLC boosted its stake in DiamondRock Hospitality by 77.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,498 shares in the last quarter. Global Retirement Partners LLC grew its position in DiamondRock Hospitality by 12,114.7% during the 4th quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 4,119 shares during the last quarter. Finally, Danske Bank A S acquired a new position in DiamondRock Hospitality during the 3rd quarter valued at approximately $33,000.

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.