Brokerages Set DiamondRock Hospitality (NYSE:DRH) PT at $9.92

Shares of DiamondRock Hospitality (NYSE:DRH) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $10.10.

DRH has been the topic of several research analyst reports. Compass Point raised 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. Truist Financial reduced their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company lowered their price objective on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, StockNews.com downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Monday.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $9.25 on Tuesday. 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 moving average price is $8.78 and its two-hundred day moving average price is $8.54. 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 $1.92 billion, a price-to-earnings ratio of 31.90, a P/E/G ratio of 5.10 and a beta of 1.60.

DiamondRock Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued 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 yield of 1.30%. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 41.38%.

Institutional Trading of DiamondRock Hospitality

Hedge funds have recently made changes to their positions in the company. Natixis bought a new stake in shares of DiamondRock Hospitality in the first quarter valued at $728,000. Centersquare Investment Management LLC grew its position in shares of DiamondRock Hospitality by 40.3% in the first quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock valued at $56,103,000 after purchasing an additional 1,810,788 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of DiamondRock Hospitality by 19.9% in the first quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock valued at $5,409,000 after purchasing an additional 93,381 shares in the last quarter. MQS Management LLC purchased a new position in shares of DiamondRock Hospitality in the second quarter valued at $480,000. Finally, Millennium Management LLC purchased a new position in shares of DiamondRock Hospitality in the second quarter valued at $15,118,000.

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.