DiamondRock Hospitality Company [NYSE: DRH] stock went on a downward path that fall over -0.85% on Wednesday, amounting to a one-week price decrease of less than -7.27%. The company report on March 2, 2023 that DIAMONDROCK HOSPITALITY COMPANY DECLARES DIVIDENDS FOR FIRST QUARTER 2023.
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DiamondRock Hospitality Company (the “Company”) (NYSE: DRH) today announced that its Board of Directors has declared a quarterly cash dividend of $0.03 per common share to be paid on April 12, 2023 to shareholders of record as of March 31, 2023.
The Company’s Board of Directors also declared a quarterly cash dividend of $0.515625 per share on its Series A Cumulative Redeemable Preferred Stock, which will be paid on March 31, 2023 to shareholders of record as of March 17, 2023.
Over the last 12 months, DRH stock dropped by -13.23%. The one-year DiamondRock Hospitality Company stock forecast points to a potential upside of 21.24. The average equity rating for DRH stock is currently 2.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.73 billion, with 211.49 million shares outstanding and 204.44 million shares in the current float. Compared to the average trading volume of 1.70M shares, DRH stock reached a trading volume of 4168061 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on DiamondRock Hospitality Company [DRH]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DRH shares is $10.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DRH stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for DiamondRock Hospitality Company shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on December 05, 2022. The new note on the price target was released on October 18, 2022, representing the official price target for DiamondRock Hospitality Company stock. Previously, the target price had yet another drop from $11 to $10, while Wells Fargo kept a Equal Weight rating on DRH stock.
The Average True Range (ATR) for DiamondRock Hospitality Company is set at 0.28, with the Price to Sales ratio for DRH stock in the period of the last 12 months amounting to 1.73. The Price to Book ratio for the last quarter was 1.09, with the Price to Cash per share for the same quarter was set at 0.32. Price to Free Cash Flow for DRH in the course of the last twelve months was 13.10.
DRH Stock Performance Analysis:
DiamondRock Hospitality Company [DRH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.27. With this latest performance, DRH shares dropped by -13.65% in over the last four-week period, additionally sinking by -8.28% over the last 6 months – not to mention a drop of -13.23% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DRH stock in for the last two-week period is set at 30.50, with the RSI for the last a single of trading hit 24.34, and the three-weeks RSI is set at 35.87 for DiamondRock Hospitality Company [DRH]. The present Moving Average for the last 50 days of trading for this stock 8.89, while it was recorded at 8.23 for the last single week of trading, and 8.86 for the last 200 days.
Insight into DiamondRock Hospitality Company Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and DiamondRock Hospitality Company [DRH] shares currently have an operating margin of +17.72 and a Gross Margin at +27.93. DiamondRock Hospitality Company’s Net Margin is presently recorded at +10.92.
Return on Equity for this stock inclined to 7.04, with Return on Assets sitting at 3.54.
DRH Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DRH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for DiamondRock Hospitality Company go to -9.50%.
DiamondRock Hospitality Company [DRH] Insider Position Details
There are presently around $1,738 million, or 96.30% of DRH stock, in the hands of institutional investors. The top three institutional holders of DRH stocks are: BLACKROCK INC. with ownership of 40,344,471, which is approximately 2.734% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 37,366,640 shares of the stock with an approximate value of $304.91 million in DRH stocks shares; and STATE STREET CORP, currently with $112.75 million in DRH stock with ownership of nearly 2.332% of the company’s market capitalization.
Positions in DiamondRock Hospitality Company stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 120 institutional holders increased their position in DiamondRock Hospitality Company [NYSE:DRH] by around 13,659,815 shares. Additionally, 131 investors decreased positions by around 19,775,851 shares, while 28 investors held positions by with 179,533,740 shares. The mentioned changes placed institutional holdings at 212,969,406 shares, according to the latest SEC report filing. DRH stock had 25 new institutional investments in for a total of 3,346,115 shares, while 36 institutional investors sold positions of 8,446,714 shares during the same period.