DiamondRock Hospitality (NYSE:DRH) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of DiamondRock Hospitality (NYSE:DRH) have been given an average rating of “Hold” by the four ratings firms that are covering the firm, Marketbeat reports. Three 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 brokers that have updated their coverage on the stock in the last year is $10.25.

A number of brokerages have weighed in on DRH. Wells Fargo & Company upped their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their target price for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a research note on Friday, November 15th. Finally, StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

DiamondRock Hospitality Price Performance

Shares of NYSE DRH opened at $8.93 on Friday. The stock has a market cap of $1.85 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 4.88 and a beta of 1.59. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $10.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a fifty day moving average of $9.20 and a 200-day moving average of $8.79.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.33%. The ex-dividend date was Tuesday, December 31st. DiamondRock Hospitality’s dividend payout ratio is presently 42.86%.

Hedge Funds Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently modified their holdings of the company. 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. Orion Portfolio Solutions LLC boosted its holdings in DiamondRock Hospitality by 1.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock valued at $916,000 after acquiring an additional 1,652 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. Finally, 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.

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.