DiamondRock Hospitality (NYSE:DRH) Lowered to Sell at StockNews.com

StockNews.com cut shares of DiamondRock Hospitality (NYSE:DRH) from a hold rating to a sell rating in a report published on Friday morning.

DiamondRock Hospitality Price Performance

NYSE:DRH opened at $8.09 on Friday. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 4.75 and a beta of 1.60. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99. The stock’s 50 day moving average price is $8.33 and its two-hundred day moving average price is $8.88. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, June 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 33.33%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. First Trust Direct Indexing L.P. boosted its stake in shares of DiamondRock Hospitality by 8.8% during the 4th quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 1,181 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of DiamondRock Hospitality by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after acquiring an additional 1,900 shares during the period. Van ECK Associates Corp boosted its stake in shares of DiamondRock Hospitality by 6.7% during the 2nd quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 2,028 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of DiamondRock Hospitality by 195.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 2,204 shares during the period. Finally, Metis Global Partners LLC boosted its stake in shares of DiamondRock Hospitality by 19.4% during the 4th quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust’s stock worth $134,000 after acquiring an additional 2,324 shares during the period.

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.