DiamondRock Hospitality (NYSE:DRH) Receives $10.05 Consensus PT from Brokerages

DiamondRock Hospitality (NYSE:DRH) has been given a consensus recommendation of “Hold” by the four ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.05.

A number of research firms have recently issued reports on DRH. Evercore ISI cut DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research report on Friday, November 15th. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Finally, Wells Fargo & Company dropped their price objective on DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th.

Institutional Trading of DiamondRock Hospitality

Several hedge funds have recently added to or reduced their stakes in the business. Nissay Asset Management Corp Japan ADV boosted its stake in shares of DiamondRock Hospitality by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 31,738 shares of the real estate investment trust’s stock valued at $292,000 after purchasing an additional 1,216 shares in the last quarter. Xponance Inc. boosted its position in DiamondRock Hospitality by 9.9% during the 4th quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 1,360 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of DiamondRock Hospitality by 0.9% during the 4th quarter. Ancora Advisors LLC now owns 164,150 shares of the real estate investment trust’s stock worth $1,482,000 after acquiring an additional 1,490 shares during the period. Orion Portfolio Solutions LLC raised its position in shares of DiamondRock Hospitality by 1.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock worth $916,000 after acquiring an additional 1,652 shares in the last quarter. Finally, Vert Asset Management LLC lifted its stake in shares of DiamondRock Hospitality by 2.1% in the 4th quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock valued at $746,000 after purchasing an additional 1,729 shares during the period.

DiamondRock Hospitality Trading Up 0.4 %

NYSE:DRH opened at $7.94 on Monday. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $10.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.73. The business’s 50-day simple moving average is $8.62 and its 200-day simple moving average is $8.86. The stock has a market capitalization of $1.65 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 2.06 and a beta of 1.63.

DiamondRock Hospitality Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 4.03%. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, March 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 188.24%.

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.