Brokerages Set DiamondRock Hospitality (NYSE:DRH) Target Price at $10.25

DiamondRock Hospitality (NYSE:DRH) has received a consensus rating of “Hold” from the four brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $10.25.

DRH has been the subject of a number of research reports. Evercore ISI lowered DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a research note on Friday, November 15th. Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.75 to $10.25 in a research note on Friday, November 22nd.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH opened at $9.01 on Friday. The stock has a fifty day moving average price of $9.20 and a two-hundred day moving average price of $8.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $1.87 billion, a P/E ratio of 32.16, a PEG ratio of 4.96 and a beta of 1.59. DiamondRock Hospitality has a 1 year low of $7.74 and a 1 year high of $10.00.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, December 31st. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $1.28 annualized dividend and a dividend yield of 14.21%. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 42.86%.

Institutional Trading of DiamondRock Hospitality

A number of hedge funds have recently modified their holdings of the business. Orion Portfolio Solutions LLC lifted its holdings in shares of DiamondRock Hospitality by 1.6% in the third quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock valued at $916,000 after purchasing an additional 1,652 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of DiamondRock Hospitality by 14.4% in the second quarter. Evergreen Capital Management LLC now owns 14,372 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 1,810 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of DiamondRock Hospitality by 35.1% in the third 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 in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of DiamondRock Hospitality by 3.9% in the third quarter. Daiwa Securities Group Inc. now owns 68,728 shares of the real estate investment trust’s stock valued at $600,000 after purchasing an additional 2,598 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of DiamondRock Hospitality by 2,093.9% in the second 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 in the last quarter.

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.