Stocks of Diamondrock Hospitality Co. (NYSE:DRH) traded higher last session on Wall Street, up 1.38% to $8.09.
According to the data, Diamondrock Hospitality Co. (NYSE:DRH) has 13 analysts covering its stock. 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 $10.00. Given the previous closing price of $7.98, this indicates a potential upside of 25.31 percent. DRH stock price is now 1.02% away from the 50-day moving average and -2.30% away from the 200-day moving average. The market capitalization of the company currently stands at $1.70B.
A total of 7 analysts have issued a hold rating and 3 have given it a buy rating. Brokers who have rated the stock have averaged $9.77 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 Co. (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 $19.38 million. Insiders disposed of 261,812 shares of company stock worth roughly $2.12 million over the past 1 year. A total of 1.58% 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 Co. shares was purchased by CAPITAL GROWTH MANAGEMENT LP during the first quarter worth $5,663,000. ADAGE CAPITAL PARTNERS GP, L.L.C. invested $4,045,000 in shares of DRH during the first quarter. In the first quarter, H/2 CREDIT MANAGER LP acquired a new stake in Diamondrock Hospitality Co. valued at approximately $3,641,000. HUDSON BAY CAPITAL MANAGEMENT LP acquired a new stake in DRH for approximately $2,836,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND purchased a new stake in DRH valued at around $899,000 in the second quarter. In total, there are 344 active investors with 112.43% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $7.95 for Diamondrock Hospitality Co. (NYSE: DRH). During the past 12 months, Diamondrock Hospitality Co. has had a low of $7.14 and a high of $10.02. The fifty day moving average price for DRH is $8.01 and a two-hundred day moving average price translates $8.28 for the stock.
The latest earnings results from Diamondrock Hospitality Co. (NYSE: DRH) was released for Jun, 2023. According to the REIT – Hotel & Motel Company, earnings per share came in at $0.17, missing analysts’ expectations of $0.18 by -0.01. This compares to $0.23 EPS in the same period last year. The net profit margin was 8.04% and return on equity was 5.93% for DRH. The company reported revenue of $291.25 million for the quarter, compared to $281.41 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.5 percent. For the current quarter, analysts expect DRH to generate $267.65M 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 $0.14 dividend and a 1.69% 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 12.85%.
Diamondrock Hospitality Co.(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 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.
