Brokerages Set DiamondRock Hospitality Company (NYSE:DRH) PT at $9.91

Shares of DiamondRock Hospitality Company (NYSE:DRH) have been given a consensus rating of “Hold” by the nine ratings firms that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $9.9063.

A number of brokerages recently commented on DRH. Wells Fargo & Company increased their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, December 1st. Evercore upped their price objective on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research report on Thursday, November 20th. Truist Financial upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $11.00 in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft raised DiamondRock Hospitality from a “hold” rating to a “buy” rating and boosted their target price for the company from $10.00 to $12.00 in a research report on Tuesday, January 13th. Finally, Barclays began coverage on DiamondRock Hospitality in a report on Tuesday, January 6th. They set an “equal weight” rating and a $10.00 price target on the stock.

Institutional Trading of DiamondRock Hospitality

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of DiamondRock Hospitality by 146.0% during the fourth quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,697 shares during the period. First Horizon Corp raised its holdings in shares of DiamondRock Hospitality by 54.9% in the fourth quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 1,139 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of DiamondRock Hospitality by 77.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,498 shares during the last quarter. Danske Bank A S purchased a new position in DiamondRock Hospitality during the 3rd quarter valued at $33,000. Finally, Global Retirement Partners LLC boosted its holdings in DiamondRock Hospitality by 12,114.7% during the 4th quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 4,119 shares during the period.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $10.05 on Monday. DiamondRock Hospitality has a 52-week low of $6.18 and a 52-week high of $10.24. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average is $9.43 and its 200 day moving average is $8.73. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 40.20, a PEG ratio of 4.50 and a beta of 1.03.

DiamondRock Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. DiamondRock Hospitality’s dividend payout ratio (DPR) is 128.00%.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.