DiamondRock Hospitality (NYSE:DRH – Get Free Report) announced a quarterly dividend on Wednesday, September 4th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.03 per share by the real estate investment trust on Friday, October 11th. This represents a $0.12 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Monday, September 30th.
DiamondRock Hospitality has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect DiamondRock Hospitality to earn $1.03 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 11.7%.
DiamondRock Hospitality Stock Performance
Shares of DRH stock opened at $8.95 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.88 billion, a PE ratio of 24.86, a P/E/G ratio of 4.43 and a beta of 1.60. The company’s fifty day simple moving average is $8.42 and its 200-day simple moving average is $8.65. DiamondRock Hospitality has a 52 week low of $7.33 and a 52 week high of $9.99.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Compass Point upgraded shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Monday, August 5th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Truist Financial decreased their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their target price on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of “Hold” and an average target price of $9.92.
Get Our Latest Analysis on DiamondRock Hospitality
About DiamondRock Hospitality
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.
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