Analysts Set DiamondRock Hospitality (NYSE:DRH) Target Price at $10.05

Shares of DiamondRock Hospitality (NYSE:DRH) have earned an average recommendation of “Hold” from the four analysts that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $10.05.

Separately, Wells Fargo & Company decreased their price objective on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an “equal weight” rating for the company in a report on Tuesday, February 18th.

Hedge Funds Weigh In On DiamondRock Hospitality

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of DiamondRock Hospitality by 15.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock valued at $42,996,000 after buying an additional 663,529 shares in the last quarter. Jane Street Group LLC lifted its position in shares of DiamondRock Hospitality by 73.0% during the third quarter. Jane Street Group LLC now owns 302,757 shares of the real estate investment trust’s stock worth $2,643,000 after acquiring an additional 127,717 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of DiamondRock Hospitality by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,350,283 shares of the real estate investment trust’s stock worth $46,716,000 after acquiring an additional 28,391 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in DiamondRock Hospitality by 45.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,327 shares of the real estate investment trust’s stock worth $1,249,000 after purchasing an additional 43,088 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC bought a new position in DiamondRock Hospitality in the 4th quarter worth about $14,889,000.

DiamondRock Hospitality Stock Down 3.1 %

DRH stock opened at $7.01 on Friday. The stock has a market cap of $1.46 billion, a P/E ratio of 25.02, a P/E/G ratio of 2.06 and a beta of 1.38. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $8.24 and its two-hundred day simple moving average is $8.78. DiamondRock Hospitality has a 1-year low of $6.85 and a 1-year high of $10.00.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.08 dividend. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. This represents a $0.32 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Friday, March 28th. DiamondRock Hospitality’s payout ratio is currently 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.