Brokerages Set DiamondRock Hospitality (NYSE:DRH) PT at $10.25

Shares of DiamondRock Hospitality (NYSE:DRH) have been assigned an average recommendation of “Hold” from the four brokerages that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $10.25.

DRH has been the subject of a number of research analyst reports. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Wells Fargo & Company upped their price objective on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Monday, December 9th. Evercore ISI cut shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price for the company. in a research note on Friday, November 15th. Finally, StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $8.88 on Friday. The firm’s fifty day moving average price is $9.19 and its two-hundred day moving average price is $8.81. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $10.00. The firm has a market capitalization of $1.84 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 4.94 and a beta of 1.59. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a $0.32 dividend. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.28 annualized dividend and a yield of 14.42%. DiamondRock Hospitality’s payout ratio is 42.86%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State Street Corp increased its stake in DiamondRock Hospitality by 1.8% during the 3rd quarter. State Street Corp now owns 12,535,384 shares of the real estate investment trust’s stock worth $109,806,000 after acquiring an additional 221,219 shares during the period. Pzena Investment Management LLC increased its position in shares of DiamondRock Hospitality by 3.6% in the third quarter. Pzena Investment Management LLC now owns 9,153,018 shares of the real estate investment trust’s stock worth $79,906,000 after purchasing an additional 317,901 shares during the period. Rush Island Management LP acquired a new position in DiamondRock Hospitality in the third quarter valued at about $51,726,000. Geode Capital Management LLC lifted its position in DiamondRock Hospitality by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock worth $46,716,000 after purchasing an additional 28,391 shares during the period. Finally, Wellington Management Group LLP increased its holdings in DiamondRock Hospitality by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock valued at $42,996,000 after buying an additional 663,529 shares during the period.

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.