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

DiamondRock Hospitality (NYSE:DRH) has earned an average recommendation of “Hold” from the five analysts that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $10.38.

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

Hedge Funds Weigh In On DiamondRock Hospitality

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position 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 buying an additional 663,529 shares during the last quarter. Jane Street Group LLC lifted its position in DiamondRock Hospitality by 73.0% in the third 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 last quarter. Geode Capital Management LLC boosted its stake 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 acquiring an additional 28,391 shares in the last quarter. MQS Management LLC purchased a new position in shares of DiamondRock Hospitality during the second quarter worth about $480,000. Finally, Holocene Advisors LP acquired a new stake in shares of DiamondRock Hospitality during the third quarter worth about $568,000.

DiamondRock Hospitality Stock Down 1.8 %

Shares of NYSE DRH opened at $9.21 on Wednesday. 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’s 50 day moving average is $9.20 and its two-hundred day moving average is $8.73. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 5.65 and a beta of 1.60.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 13.90%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 31st. DiamondRock Hospitality’s payout ratio is 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.