+1 on check the therm.
Also, do you live above 4000 feet altitude?
Did you put hot/boiling water in the water pan? Cold water would hold the temps down.
You have a lot of meat in there so it might take a little time to get up to temp but should hold there with the door shut and all vents open.
Possibly check to make sure vents are all the way open and not blocked by coals or ash when you poured in the charcoal or lit charcoal. Seems unlikely but I did have some blockage once that prevented a couple vents from opening all the way.