DiamondRock Hospitality (NYSE:DRH) Downgraded by StockNews.com to Sell

StockNews.com cut shares of DiamondRock Hospitality (NYSE:DRH) from a hold rating to a sell rating in a research note released on Monday morning.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company lowered their target price on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Monday, August 5th. Finally, Truist Financial cut their target price on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, DiamondRock Hospitality currently has a consensus rating of “Hold” and a consensus target price of $9.92.

DiamondRock Hospitality Price Performance

Shares of DRH stock opened at $8.70 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. The stock’s fifty day simple moving average is $8.75 and its 200 day simple moving average is $8.53. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $9.99. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 5.04 and a beta of 1.60.

DiamondRock Hospitality Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.03 per share. The ex-dividend date was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.38%. DiamondRock Hospitality’s payout ratio is 41.38%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DRH. Evergreen Capital Management LLC increased its stake in shares of DiamondRock Hospitality by 14.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 1,810 shares during the period. Louisiana State Employees Retirement System increased its position in DiamondRock Hospitality by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after purchasing an additional 1,900 shares during the period. Van ECK Associates Corp raised its holdings in DiamondRock Hospitality by 6.7% during the 2nd quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 2,028 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in DiamondRock Hospitality by 35.1% during the 3rd 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 purchasing an additional 2,116 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of DiamondRock Hospitality by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 42,394 shares of the real estate investment trust’s stock valued at $407,000 after purchasing an additional 2,916 shares during the last quarter.

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.