DiamondRock Hospitality (NYSE:DRH) Given Consensus Rating of “Hold” by Brokerages

Shares of DiamondRock Hospitality (NYSE:DRH) have earned an average rating of “Hold” from the five research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.38.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its position in DiamondRock Hospitality by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after buying an additional 1,900 shares during the period. Bank of New York Mellon Corp raised its holdings in DiamondRock Hospitality by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust’s stock worth $17,585,000 after purchasing an additional 25,154 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in DiamondRock Hospitality by 46.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 67,532 shares of the real estate investment trust’s stock worth $571,000 after purchasing an additional 21,292 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in DiamondRock Hospitality by 6.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,258 shares of the real estate investment trust’s stock worth $805,000 after purchasing an additional 5,881 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in DiamondRock Hospitality by 6.7% in the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 2,028 shares during the last quarter.

DiamondRock Hospitality Stock Performance

Shares of DiamondRock Hospitality stock opened at $9.21 on Wednesday. The firm’s fifty day simple moving average is $9.20 and its 200-day simple moving average is $8.73. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $10.00. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 5.65 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73.

DiamondRock Hospitality Increases Dividend

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