DiamondRock Hospitality (NYSE:DRH) Upgraded to “Hold” at StockNews.com

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

Several other analysts have also weighed in on DRH. Wells Fargo & Company lowered their price objective on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Monday, August 5th. Finally, Truist Financial reduced their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, DiamondRock Hospitality presently has an average rating of “Moderate Buy” and an average price target of $10.10.

DiamondRock Hospitality Trading Down 1.0 %

NYSE DRH opened at $9.16 on Tuesday. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 5.38 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 2.03. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $9.99. The company’s fifty day moving average price is $8.80 and its two-hundred day moving average price is $8.54.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 dividend on an annualized basis and a yield of 1.31%. DiamondRock Hospitality’s dividend payout ratio is currently 42.86%.

Institutional Investors Weigh In On DiamondRock Hospitality

Large investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its position in DiamondRock Hospitality by 2,093.9% in the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 3,769 shares during the last quarter. Headlands Technologies LLC acquired a new stake in DiamondRock Hospitality in the second quarter worth about $42,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 acquiring an additional 2,116 shares during the period. Harbor Capital Advisors Inc. bought a new position in DiamondRock Hospitality during the 3rd quarter valued at $74,000. Finally, Choreo LLC acquired a new position in DiamondRock Hospitality during the second quarter worth about $89,000.

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.