DiamondRock Hospitality (NYSE:DRH) Announces Earnings Results, Beats Expectations By $0.04 EPS

DiamondRock Hospitality (NYSE:DRH) announced its earnings results on Thursday. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04, Zacks reports. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.03%. The company had revenue of $285.38 million during the quarter, compared to the consensus estimate of $277.45 million. During the same period last year, the firm earned $0.27 earnings per share. DiamondRock Hospitality’s revenue was up .1% compared to the same quarter last year. DiamondRock Hospitality updated its FY 2025 guidance to 1.020-1.06 EPS.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH traded up $0.75 during mid-day trading on Friday, hitting $8.96. The stock had a trading volume of 6,495,791 shares, compared to its average volume of 3,227,301. The firm has a market cap of $1.84 billion, a PE ratio of 35.82 and a beta of 1.38. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 1.30. The company has a 50 day moving average of $8.06 and a two-hundred day moving average of $7.87. DiamondRock Hospitality has a twelve month low of $6.18 and a twelve month high of $10.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. State of Wyoming purchased a new position in shares of DiamondRock Hospitality in the second quarter worth about $58,000. Smartleaf Asset Management LLC increased its holdings in 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 worth $72,000 after buying an additional 2,349 shares during the period. United Services Automobile Association purchased a new position in DiamondRock Hospitality during the 1st quarter worth approximately $91,000. Captrust Financial Advisors purchased a new position in DiamondRock Hospitality during the 2nd quarter worth approximately $98,000. Finally, Creative Planning acquired a new stake in DiamondRock Hospitality during the 2nd quarter valued at approximately $99,000.

Analyst Upgrades and Downgrades

DRH has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of DiamondRock Hospitality in a report on Wednesday, October 8th. Morgan Stanley reduced their target price on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company upgraded DiamondRock Hospitality to a “hold” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.88.

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.