The price of DiamondRock Hospitality Company (NYSE:DRH) shares last traded on Wall Street fell -0.62% to $8.08.
Based on available information, 12 analysts follow DiamondRock Hospitality Company (NYSE:DRH). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $11.00 and a low of $8.00, we find $10.25. Given the previous closing price of $8.13, this indicates a potential upside of 26.08 percent. DRH stock price is now 0.06% away from the 50-day moving average and -4.27% away from the 200-day moving average. The market capitalization of the company currently stands at $1.64B.
Among analysts, 6 rate the stock a hold while 3 rate it a buy. Brokers who have rated the stock have averaged $9.95 as their price target over the next twelve months.
With the price target reduced from $10.50 to $9, Wells Fargo Upgraded its rating from Equal Weight to Overweight for DiamondRock Hospitality Company (NYSE: DRH).
In other news, Brugger Mark W, President and CEO sold 24,310 shares of the company’s stock on Feb 02. The stock was sold for $243,100 at an average price of $10.00. Upon completion of the transaction, the President and CEO now directly owns 2,396,099 shares in the company, valued at $19.36 million. Insiders disposed of 261,812 shares of company stock worth roughly $2.12 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in DRH stock. A new stake in DiamondRock Hospitality Company shares was purchased by HEITMAN REAL ESTATE SECURITIES LLC during the first quarter worth $18,529,000. GREAT LAKES ADVISORS, LLC invested $6,462,000 in shares of DRH during the first quarter. In the first quarter, CAPITAL GROWTH MANAGEMENT LP acquired a new stake in DiamondRock Hospitality Company valued at approximately $5,656,000. LONG POND CAPITAL, LP acquired a new stake in DRH for approximately $4,301,000. MAN GROUP PLC purchased a new stake in DRH valued at around $3,871,000 in the second quarter. In total, there are 350 active investors with 96.30% ownership of the company’s stock.
A candlestick chart of DiamondRock Hospitality Company (NYSE: DRH) showed a price of $8.01 on Thursday morning. During the past 12 months, DiamondRock Hospitality Company has had a low of $7.14 and a high of $10.02. The fifty day moving average price for DRH is $8.07 and a two-hundred day moving average price translates $8.45 for the stock.
The latest earnings results from DiamondRock Hospitality Company (NYSE: DRH) was released for Mar, 2023. According to the REIT – Hotel & Motel Company, earnings per share came in at $0.03, missing analysts’ expectations of $0.04 by -0.01. This compares to $0.04 EPS in the same period last year. The net profit margin was 9.40% and return on equity was 6.20% for DRH. The company reported revenue of $243.55 million for the quarter, compared to $196.83 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 23.74 percent. For the current quarter, analysts expect DRH to generate $298.86M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/12/2023. Investors who held shares on 06/30/2023 were paid a $0.03 dividend. On an annualized basis, this represents a $0.12 dividend and a 1.49% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, DRH is presently at 19.40%.
DiamondRock Hospitality Company(DRH) 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 35 premium quality hotels with over 9,600 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.
