DiamondRock Hospitality (NYSE:DRH) Receives $10.13 Consensus Target Price from Brokerages

DiamondRock Hospitality (NYSE:DRH) has been given an average recommendation of “Hold” by the five brokerages that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $10.13.

DRH has been the subject of several research analyst reports. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. Truist Financial reduced their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a research report on Friday, November 15th. Finally, Wells Fargo & Company reduced their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th.

Institutional Trading of DiamondRock Hospitality

Several institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in DiamondRock Hospitality by 1.8% in the third quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust’s stock valued at $109,806,000 after purchasing an additional 221,219 shares during the period. Pzena Investment Management LLC grew its holdings in DiamondRock Hospitality by 3.6% in the third quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock valued at $79,906,000 after purchasing an additional 317,901 shares during the period. Rush Island Management LP acquired a new stake in DiamondRock Hospitality in the third quarter valued at approximately $51,726,000. Geode Capital Management LLC grew its holdings in DiamondRock Hospitality by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock valued at $46,716,000 after purchasing an additional 28,391 shares during the period. Finally, Wellington Management Group LLP grew its holdings in DiamondRock Hospitality by 15.6% in the third quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock valued at $42,996,000 after purchasing an additional 663,529 shares during the period.

DiamondRock Hospitality Trading Up 0.6 %

Shares of NYSE:DRH opened at $9.34 on Friday. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $9.99. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 5.41 and a beta of 1.60. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $8.97 and a 200-day moving average price of $8.58.

DiamondRock Hospitality Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is currently 42.86%.

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.