Analysts Set DiamondRock Hospitality (NYSE:DRH) PT at $10.38

Shares of DiamondRock Hospitality (NYSE:DRH) have been assigned an average recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $10.38.

DRH has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Monday, December 9th. Evercore ISI downgraded DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target on the stock. in a report on Friday, November 15th. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Stifel Nicolaus downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. Finally, Truist Financial lowered their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th.

DiamondRock Hospitality Trading Down 1.8 %

DiamondRock Hospitality stock opened at $9.21 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a fifty-two week low of $7.74 and a fifty-two week high of $10.00. The stock has a market cap of $1.91 billion, a P/E ratio of 32.89, a PEG ratio of 5.65 and a beta of 1.60. The firm’s fifty day moving average price is $9.20 and its 200-day moving average price is $8.72.

DiamondRock Hospitality Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.32 per share. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.90%. DiamondRock Hospitality’s payout ratio is 42.86%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DRH. Louisiana State Employees Retirement System lifted its position in shares of DiamondRock Hospitality by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 105,700 shares of the real estate investment trust’s stock worth $893,000 after buying an additional 1,900 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of DiamondRock Hospitality by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,081,031 shares of the real estate investment trust’s stock valued at $17,585,000 after acquiring an additional 25,154 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of DiamondRock Hospitality by 46.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 67,532 shares of the real estate investment trust’s stock valued at $571,000 after purchasing an additional 21,292 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in DiamondRock Hospitality by 6.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,258 shares of the real estate investment trust’s stock worth $805,000 after purchasing an additional 5,881 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in DiamondRock Hospitality by 6.7% in the second quarter. Van ECK Associates Corp now owns 32,191 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 2,028 shares during the last quarter.

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.