DiamondRock Hospitality (NYSE:DRH) Receives Average Rating of “Hold” from Analysts

Shares of DiamondRock Hospitality (NYSE:DRH) have received an average rating of “Hold” from the four ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.05.

DRH has been the topic of a number of research reports. Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a report on Friday, November 15th. Wells Fargo & Company cut their price target on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus cut DiamondRock Hospitality from a “buy” rating to a “hold” rating and cut their price objective for the company from $10.75 to $10.25 in a report on Friday, November 22nd. Finally, StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

Institutional Inflows and Outflows

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

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock opened at $8.55 on Monday. The company’s 50-day moving average price is $8.68 and its two-hundred day moving average price is $8.88. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.78 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63. DiamondRock Hospitality has a 52 week low of $7.74 and a 52 week high of $10.00.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.74%. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio is currently 188.24%.

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.