DiamondRock Hospitality (NYSE:DRH) Given Consensus Rating of “Hold” by Brokerages

DiamondRock Hospitality (NYSE:DRH) has earned a consensus recommendation of “Hold” from the four research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $10.25.

A number of analysts recently weighed in on the stock. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target on the stock. in a research report on Friday, November 15th. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Stifel Nicolaus lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.75 to $10.25 in a report on Friday, November 22nd. Finally, 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 research report on Monday, December 9th.

DiamondRock Hospitality Trading Down 1.5 %

NYSE:DRH opened at $8.49 on Thursday. 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 has a 1-year low of $7.74 and a 1-year high of $10.00. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 4.88 and a beta of 1.57. The business’s 50-day moving average price is $9.08 and its two-hundred day moving average price is $8.85.

DiamondRock Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 15.08%. The ex-dividend date was Tuesday, December 31st. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio is 42.86%.

Institutional Investors Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in DiamondRock Hospitality by 35.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 2,116 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of DiamondRock Hospitality in the third quarter valued at about $74,000. Smartleaf Asset Management LLC boosted 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 buying an additional 7,189 shares during the period. KBC Group NV grew its holdings in shares of DiamondRock Hospitality by 55.9% during the fourth quarter. KBC Group NV now owns 10,436 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 3,744 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in DiamondRock Hospitality in the 3rd quarter valued at approximately $100,000.

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.