DiamondRock Hospitality (NYSE:DRH) Sets New 52-Week High After Analyst Upgrade

DiamondRock Hospitality Company (NYSE:DRH) reached a new 52-week high on Thursday after Wells Fargo & Company raised their price target on the stock from $12.00 to $13.00. Wells Fargo & Company currently has an equal weight rating on the stock. DiamondRock Hospitality traded as high as $13.05 and last traded at $12.90, with a volume of 2397795 shares trading hands. The stock had previously closed at $12.97.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America increased their target price on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Morgan Stanley raised their price target on DiamondRock Hospitality from $9.60 to $10.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. LADENBURG THALM/SH SH boosted their price objective on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Barclays lifted their price target on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Finally, Stifel Nicolaus set a $12.25 price target on shares of DiamondRock Hospitality in a research report on Thursday, June 4th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.12.

Insider Buying and Selling at DiamondRock Hospitality

In other DiamondRock Hospitality news, Director Michael A. Hartmeier sold 20,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $10.46, for a total transaction of $209,200.00. Following the completion of the transaction, the director owned 95,354 shares in the company, valued at approximately $997,402.84. This represents a 17.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the sale, the director directly owned 84,335 shares in the company, valued at approximately $1,001,899.80. This represents a 19.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company 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 made changes to their positions in DRH. UBS Group AG boosted its stake in shares of DiamondRock Hospitality by 49.9% during the 4th quarter. UBS Group AG now owns 2,627,787 shares of the real estate investment trust’s stock worth $23,545,000 after buying an additional 874,536 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of DiamondRock Hospitality in the first quarter valued at about $846,000. SG Americas Securities LLC raised its holdings in DiamondRock Hospitality by 881.7% during the fourth quarter. SG Americas Securities LLC now owns 2,024,790 shares of the real estate investment trust’s stock worth $18,142,000 after acquiring an additional 1,818,527 shares in the last quarter. Strs Ohio raised its holdings in DiamondRock Hospitality by 300.0% during the first quarter. Strs Ohio now owns 145,600 shares of the real estate investment trust’s stock worth $1,361,000 after acquiring an additional 109,200 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in DiamondRock Hospitality during the third quarter valued at approximately $450,000.

DiamondRock Hospitality Stock Up 1.4%

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a 50-day moving average of $11.81 and a 200 day moving average of $10.48. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 4.50 and a beta of 0.98.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, June 30th. DiamondRock Hospitality’s dividend payout ratio is presently 76.60%.

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.