DiamondRock Hospitality (NYSE:DRH) Hits New 12-Month Low – Time to Sell?

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

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of “Hold” and a consensus price target of $10.05.

DiamondRock Hospitality Stock Down 2.0 %

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 capitalization of $1.57 billion, a PE ratio of 27.02, a P/E/G ratio of 2.06 and a beta of 1.63. The stock’s fifty day simple moving average is $8.41 and its 200-day simple moving average is $8.81.

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 issued a dividend of $0.08 per share. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality’s payout ratio is currently 188.24%.

Institutional Investors Weigh In On DiamondRock Hospitality

A number of large investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in DiamondRock Hospitality in the fourth quarter worth $34,000. State of Wyoming bought a new stake in shares of DiamondRock Hospitality in the 4th quarter valued at approximately $54,000. FIL Ltd purchased a new position in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $60,000. Smartleaf Asset Management LLC increased its position in shares of 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 acquiring an additional 7,189 shares during the period. Finally, Caxton Associates LP purchased a new position in DiamondRock Hospitality during the fourth quarter valued at approximately $92,000.

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.