DiamondRock Hospitality (NYSE:DRH) to Issue Quarterly Dividend of $0.03

DiamondRock Hospitality (NYSE:DRH) declared a quarterly dividend on Monday, June 3rd, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.03 per share by the real estate investment trust on Friday, July 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, June 28th.

DiamondRock Hospitality has a payout ratio of 26.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect DiamondRock Hospitality to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 11.8%.

DiamondRock Hospitality Trading Down 1.9 %

NYSE DRH opened at $8.29 on Wednesday. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 6.22 and a beta of 1.59. 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. The firm’s fifty day moving average price is $8.55 and its 200 day moving average price is $9.07.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Truist Financial upped their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, March 14th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.30.

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.