DiamondRock Hospitality (NYSE:DRH) Receives Average 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 stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $10.25.

Several research firms have weighed in on DRH. Wells Fargo & Company increased their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Monday, December 9th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price for the company. in a research report on Friday, November 15th. Finally, 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 report on Friday, November 22nd.

DiamondRock Hospitality Trading Down 0.6 %

NYSE DRH opened at $8.93 on Friday. 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 50 day simple moving average of $9.20 and a two-hundred day simple moving average of $8.79. The stock has a market cap of $1.85 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 4.88 and a beta of 1.59.

DiamondRock Hospitality Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 14.33%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 31st. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 42.86%.

Institutional Trading of DiamondRock Hospitality

Several institutional investors have recently added to or reduced their stakes in DRH. Choreo LLC purchased a new stake in DiamondRock Hospitality during the 2nd quarter valued at $89,000. American Century Companies Inc. boosted its stake in DiamondRock Hospitality by 11.8% during the 2nd quarter. American Century Companies Inc. now owns 98,176 shares of the real estate investment trust’s stock valued at $830,000 after purchasing an additional 10,336 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of DiamondRock Hospitality by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,102,363 shares of the real estate investment trust’s stock worth $26,214,000 after buying an additional 120,228 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of DiamondRock Hospitality by 15.9% in the 2nd quarter. Hsbc Holdings PLC now owns 169,083 shares of the real estate investment trust’s stock worth $1,426,000 after buying an additional 23,245 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of DiamondRock Hospitality by 109.9% in the 2nd quarter. XTX Topco Ltd now owns 54,149 shares of the real estate investment trust’s stock worth $458,000 after buying an additional 28,356 shares during the last quarter.

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.