Zacks Research lowered shares of DiamondRock Hospitality (NYSE:DRH – Free Report) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks reports.
Other research analysts have also issued reports about the company. Truist Financial raised their price objective on DiamondRock Hospitality from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Citigroup upped their target price on DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Morgan Stanley upped their price target on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. Bank of America increased their price objective on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Wells Fargo & Company boosted their target price on shares of DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.82.
Get Our Latest Stock Report on DRH
DiamondRock Hospitality Price Performance
DiamondRock Hospitality (NYSE:DRH – Get Free Report) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.22. The business had revenue of $318.29 million for the quarter, compared to the consensus estimate of $314.98 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 EPS. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. On average, analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current year.
DiamondRock Hospitality Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.11 per share. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.09. The ex-dividend date is Wednesday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 3.5%. DiamondRock Hospitality’s payout ratio is 60.27%.
Hedge Funds Weigh In On DiamondRock Hospitality
A number of institutional investors have recently made changes to their positions in DRH. BlackRock Inc. acquired a new stake in shares of DiamondRock Hospitality during the second quarter worth approximately $475,282,000. Bank of America Corp DE acquired a new stake in DiamondRock Hospitality in the second quarter valued at $129,710,000. Centersquare Investment Management LLC raised its holdings in DiamondRock Hospitality by 3.2% in the fourth quarter. Centersquare Investment Management LLC now owns 7,780,988 shares of the real estate investment trust’s stock valued at $69,718,000 after acquiring an additional 244,013 shares in the last quarter. Cohen & Steers Inc. bought a new position in DiamondRock Hospitality during the 4th quarter valued at $59,231,000. Finally, SG Americas Securities LLC boosted its stake in DiamondRock Hospitality by 106.1% during the 1st quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust’s stock valued at $39,098,000 after acquiring an additional 2,147,881 shares during the last quarter.
About DiamondRock Hospitality
DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resorts in the United States. The company focuses on lodging properties in locations that appeal to business and leisure travelers, including gateway cities, destination resorts and other high-demand markets.
DiamondRock’s properties operate under a combination of nationally recognized hotel brands and independent or company-developed concepts. Its portfolio includes full-service hotels, lifestyle properties and resort accommodations, with services such as guest rooms, restaurants, meeting and event facilities, recreational amenities and other hospitality offerings.
The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.
Featured Articles
- Five stocks we like better than DiamondRock Hospitality
- Bitcoin Is Bouncing Back—Here are 2 Ways to Play the Rebound
- The Bull Case for Amprius Technologies Just Got Stronger
- CarMax Just Gave Investors a Better Reason to Believe in the Turnaround
- CoreWeave Comes With Risks: Analysts Split on What Matters Most
Receive News & Ratings for DiamondRock Hospitality Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality and related companies with MarketBeat.com's FREE daily email newsletter.
