DiamondRock Hospitality (NYSE:DRH) Receives $9.92 Average Price Target from Brokerages

Shares of DiamondRock Hospitality (NYSE:DRH) have received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $10.10.

Several equities analysts recently commented on DRH shares. Truist Financial reduced their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. StockNews.com lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Monday. Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, August 5th. Finally, Wells Fargo & Company dropped their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $9.25 on Tuesday. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $9.99. The business has a 50-day simple moving average of $8.78 and a 200 day simple moving average of $8.54. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 5.10 and a beta of 1.60.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 41.38%.

Institutional Investors Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP raised its position in DiamondRock Hospitality by 2,093.9% during the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 3,769 shares during the last quarter. Headlands Technologies LLC bought a new position in DiamondRock Hospitality during the 2nd quarter valued at approximately $42,000. Mirae Asset Global Investments Co. Ltd. raised its position in DiamondRock Hospitality by 35.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 2,116 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in DiamondRock Hospitality during the 3rd quarter valued at approximately $74,000. Finally, Choreo LLC bought a new position in DiamondRock Hospitality during the 2nd quarter valued at approximately $89,000.

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.