DiamondRock Hospitality (NYSE:DRH) Receives Average Rating of “Hold” from Analysts

Shares of DiamondRock Hospitality (NYSE:DRH) have earned a consensus rating of “Hold” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $10.38.

A number of equities analysts have recently weighed in on the company. Truist Financial lowered their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective on the stock. in a report on Friday, November 15th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company upped their target price on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their price target for the company from $10.75 to $10.25 in a research note on Friday, November 22nd.

DiamondRock Hospitality Stock Performance

Shares of DiamondRock Hospitality stock opened at $9.34 on Wednesday. The business has a 50-day simple moving average of $9.18 and a 200 day simple moving average of $8.70. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $10.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 5.65 and a beta of 1.60.

DiamondRock Hospitality Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.70%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s payout ratio is presently 42.86%.

Institutional Trading of DiamondRock Hospitality

Hedge funds have recently bought and sold shares of the business. Rush Island Management LP purchased a new stake in shares of DiamondRock Hospitality during the 3rd quarter valued at $51,726,000. Millennium Management LLC bought a new stake in DiamondRock Hospitality in the second quarter worth about $15,118,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in DiamondRock Hospitality by 326.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust’s stock valued at $10,788,000 after acquiring an additional 946,073 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of DiamondRock Hospitality during the 3rd quarter valued at approximately $6,442,000. Finally, Wellington Management Group LLP increased its stake in shares of 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 worth $42,996,000 after purchasing an additional 663,529 shares during the last quarter.

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.