DiamondRock Hospitality (NYSE:DRH) Reaches New 1-Year Low – What’s Next?

DiamondRock Hospitality (NYSE:DRH)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $7.58 and last traded at $7.62, with a volume of 194989 shares. The stock had previously closed at $7.71.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company decreased their target price on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.05.

DiamondRock Hospitality Stock Performance

The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.06 and a beta of 1.63. 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 firm’s 50-day moving average price is $8.41 and its two-hundred day moving average price is $8.81.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.08 per share. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 annualized dividend and a yield of 4.24%. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio is presently 188.24%.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of large investors have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in DiamondRock Hospitality during the 4th quarter worth approximately $34,000. State of Wyoming acquired a new position in DiamondRock Hospitality during the fourth quarter valued at $54,000. FIL Ltd acquired a new position in shares of DiamondRock Hospitality in the fourth quarter worth $60,000. Smartleaf Asset Management LLC raised its holdings in shares of DiamondRock Hospitality by 278.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,769 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 7,189 shares in the last quarter. Finally, Caxton Associates LP bought a new stake in DiamondRock Hospitality during the fourth quarter valued at about $92,000.

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.