DiamondRock Hospitality (NYSE:DRH) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of DiamondRock Hospitality Company (NYSE:DRH) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.23 and traded as high as $9.25. DiamondRock Hospitality shares last traded at $9.2350, with a volume of 1,089,064 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on DRH. Weiss Ratings restated a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. Morgan Stanley dropped their target price on shares of DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, October 22nd. Wells Fargo & Company raised 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 note on Monday, December 1st. Evercore ISI upped their price objective on shares of 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, Truist Financial increased their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.38.

DiamondRock Hospitality Stock Up 0.7%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock’s fifty day simple moving average is $8.69 and its two-hundred day simple moving average is $8.23. The stock has a market capitalization of $1.88 billion, a P/E ratio of 36.94, a price-to-earnings-growth ratio of 4.50 and a beta of 1.04.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $285.38 million for the quarter, compared to analysts’ expectations of $277.45 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. DiamondRock Hospitality’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous 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 expect that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, December 31st. DiamondRock Hospitality’s dividend payout ratio is currently 128.00%.

Institutional Investors Weigh In On DiamondRock Hospitality

Institutional investors have recently modified their holdings of the company. Danske Bank A S acquired a new stake in shares of DiamondRock Hospitality during the third quarter worth $33,000. State of Wyoming bought a new position in shares of DiamondRock Hospitality in the 2nd quarter worth about $58,000. Smartleaf Asset Management LLC lifted its stake in shares of DiamondRock Hospitality by 33.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 9,294 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 2,349 shares during the period. Profund Advisors LLC bought a new stake in shares of DiamondRock Hospitality during the 2nd quarter valued at about $79,000. Finally, DRW Securities LLC bought a new stake in DiamondRock Hospitality in the first quarter worth approximately $84,000.

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.