DiamondRock Hospitality (NYSE:DRH) Given Consensus Rating of “Hold” by Analysts

DiamondRock Hospitality (NYSE:DRH) has earned a consensus rating of “Hold” from the four analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $10.25.

Several analysts recently issued reports on the company. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their target price for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company raised their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, 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 report on Friday, November 15th.

DiamondRock Hospitality Stock Up 0.5 %

Shares of DRH opened at $8.59 on Thursday. The business’s 50 day moving average is $8.99 and its 200 day moving average is $8.85. The company has a market capitalization of $1.78 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 4.88 and a beta of 1.57. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $10.00. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.32 dividend. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.91%. DiamondRock Hospitality’s payout ratio is 42.86%.

Hedge Funds Weigh In On DiamondRock Hospitality

Large investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in DiamondRock Hospitality by 15.6% during the 3rd 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 acquiring an additional 663,529 shares during the period. Jane Street Group LLC boosted its holdings in DiamondRock Hospitality by 73.0% during the 3rd quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock valued at $2,643,000 after acquiring an additional 127,717 shares during the period. Geode Capital Management LLC boosted its holdings in DiamondRock Hospitality by 0.5% during the 3rd 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 acquiring an additional 28,391 shares during the period. Barclays PLC boosted its holdings in DiamondRock Hospitality by 37.6% during the 3rd quarter. Barclays PLC now owns 368,616 shares of the real estate investment trust’s stock valued at $3,219,000 after acquiring an additional 100,805 shares during the period. Finally, Holocene Advisors LP purchased a new position in DiamondRock Hospitality during the 3rd quarter valued at $568,000.

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.