DiamondRock Hospitality (NYSE:DRH – Get Free Report) issued its earnings results on Thursday. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22), Zacks reports. The business had revenue of $309.28 million during the quarter, compared to analyst estimates of $301.77 million. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. DiamondRock Hospitality’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. DiamondRock Hospitality updated its FY 2024 guidance to 0.950-1.000 EPS.
DiamondRock Hospitality Stock Performance
NYSE DRH remained flat at $8.09 during trading on Friday. The company’s stock had a trading volume of 4,483,656 shares, compared to its average volume of 2,103,640. The firm has a market cap of $1.70 billion, a P/E ratio of 22.47, a PEG ratio of 4.75 and a beta of 1.60. The company has a 50 day moving average price of $8.33 and a 200-day moving average price of $8.88. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.04 and a quick ratio of 2.04. DiamondRock Hospitality has a 12-month low of $7.33 and a 12-month high of $9.99.
DiamondRock Hospitality Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, June 28th. DiamondRock Hospitality’s payout ratio is 33.33%.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on DiamondRock Hospitality
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.
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