Brokerages Set DiamondRock Hospitality (NYSE:DRH) Target Price at $9.92

Shares of DiamondRock Hospitality (NYSE:DRH) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $10.10.

Several brokerages recently commented on DRH. Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Monday, August 5th. Truist Financial cut their price target on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Company cut their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th.

DiamondRock Hospitality Trading Down 0.1 %

Shares of DRH stock opened at $9.25 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. DiamondRock Hospitality has a 12-month low of $7.74 and a 12-month high of $9.99. The stock has a market capitalization of $1.92 billion, a P/E ratio of 33.04, a P/E/G ratio of 5.43 and a beta of 1.60. The firm’s 50 day moving average is $8.79 and its 200 day moving average is $8.54.

DiamondRock Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is 42.86%.

Hedge Funds Weigh In On DiamondRock Hospitality

Hedge funds have recently modified their holdings of the company. Quarry LP lifted its stake in shares of DiamondRock Hospitality by 2,093.9% during the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 3,769 shares in the last quarter. Headlands Technologies LLC bought a new stake in DiamondRock Hospitality during the second quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 2,116 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of DiamondRock Hospitality in the third quarter worth about $74,000. Finally, Choreo LLC purchased a new stake in shares of DiamondRock Hospitality during the second quarter worth about $89,000.

About DiamondRock Hospitality

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.